Phil Carr
The Gold & Silver Club
Silver rose on Thursday as market optimism over a potential COVID-19 vaccine gave way to concerns over the logistics of its eventual roll-out, though prices were underpinned by expectations of further monetary stimulus.
European Central Bank President Christine Lagarde signalled further economic support, with infections expected to spike as winter sets in.
Silver has risen 35% this year amid unprecedented global stimulus during the pandemic.
The intensifying second coronavirus wave is likely to delay the economic recovery process, raising the level of uncertainty and supporting the precious metal.
Silver benefits from widespread stimulus measures because it is viewed as a hedge against inflation and currency debasement.
Where are prices heading next? Watch The Commodity Report now, for my latest price forecasts and predictions
Trading has large potential rewards, but also large potential risk and may not be suitable for all investors. The value of your investments and income may go down as well as up. You should not speculate with capital that you cannot afford to lose. Ensure you fully understand the risks and seek independent advice if necessary.
Recommended Content
Editors’ Picks
EUR/USD climbs to 10-day highs above 1.0700
EUR/USD gained traction and rose to its highest level in over a week above 1.0700 in the American session on Tuesday. The renewed US Dollar weakness following the disappointing PMI data helps the pair stretch higher.
GBP/USD extends recovery beyond 1.2400 on broad USD weakness
GBP/USD gathered bullish momentum and extended its daily rebound toward 1.2450 in the second half of the day. The US Dollar came under heavy selling pressure after weaker-than-forecast PMI data and fueled the pair's rally.
Gold rebounds to $2,320 as US yields turn south
Gold reversed its direction and rose to the $2,320 area, erasing a large portion of its daily losses in the process. The benchmark 10-year US Treasury bond yield stays in the red below 4.6% following the weak US PMI data and supports XAU/USD.
Here’s why Ondo price hit new ATH amid bearish market outlook Premium
Ondo price shows no signs of slowing down after setting up an all-time high (ATH) at $1.05 on March 31. This development is likely to be followed by a correction and ATH but not necessarily in that order.
Germany’s economic come back
Germany is the sick man of Europe no more. Thanks to its service sector, it now appears that it will exit recession, and the economic future could be bright. The PMI data for April surprised on the upside for Germany, led by the service sector.