On Tuesday, Silver prices rallied back above $17.70 as optimism around the upcoming U.S-China trade talks dimmed – fuelling safe-haven demand for the precious metal alongside gold.
Silver prices recovered from weakness at the start of the month, finding support at $17 per ounce.
Elsewhere this week, the Federal Reserve will be thrust into the spotlight. Several FOMC members are scheduled to speak and minutes from the FOMC’s September meeting are due for release on Wednesday.
With an endless list of high impact events still on the horizon from Brexit uncertainties, escalating U.S-China trade war tensions to rising concerns about the health of global economy – whichever way you look at it, the fundamental backdrop for the precious mentals remains bullish.
Where are prices heading next? Watch Phil Carr at The Gold & Silver Club review Silver with the latest price forecast 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.