Silver tends to track gold, but it also has reasons for strength on industrial demand. The recent sharp fall in the US 10 years should pressure real yields and this is usually a boost for gold and silver. However, it has not been recently due to the strength in the USD. However, if the USD finds reasons to weaken then watch for silver upside, especially with some strong seasonals to back it up.

Over the last 10 years, silver has risen a total of 06 times in 10 years between July 20 and September 01 with an average return of +7.40%. The largest gain was in 2020 with a 40.74% gain.

Major Trade Risks: Silver will fall sharply on any hints that the Fed is starting to consider bond tapering. This is a key risk.


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High Risk Investment Warning: Contracts for Difference (‘CFDs’) are complex financial products that are traded on margin. Trading CFDs carries a high degree of risk. It is possible to lose all your capital. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent expert advice if necessary and speculate only with funds that you can afford to lose. Please think carefully whether such trading suits you, taking into consideration all the relevant circumstances as well as your personal resources. We do not recommend clients posting their entire account balance to meet margin requirements. Clients can minimise their level of exposure by requesting a change in leverage limit. For more information please refer to HYCM’s Risk Disclosure.

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