Having flirted briefly with the $18.00/oz level silver is now taking a well earned breather. Although the demand for silver differs from gold the influence of gold is still enormous. However, gold has broken through to record territory and is currently engaged in an inverse battle with the once almighty dollar, so indirectly silver is also a dollar ‘play’.
Todays pull back in silver prices can be attributed to the mini rally, if we can call it that, by the dollar. The dollar had dropped down to touch 75.2 before heading north to trade at 75.7, however the rally lacked any meaningful strength and the dollar is now heading down again to trade at 75.4, as we write, on the dollar index, which compares it to a basket of other currencies. (more)
No comments:
Post a Comment