Silver price analysis: Time to buy silver? [Video]

Phil Carr The Gold & Silver Club

Silver prices rose 2% on Friday with China back after being shut for public holidays during Oct. 1 to 8.

Elsewhere gold was headed for a second straight weekly gain, with the metal's appeal as an inflation hedge bolstered by renewed optimism over a new U.S. coronavirus relief package.

Talks resumed between House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin over the coronavirus aid plan.

A widening lead for Democratic presidential candidate Joe Biden was also seen as opening the way for a big economic stimulus.

Mirroring the metal's appeal, gold-backed exchange traded funds added more than 1,000 tonnes of bullion worth $60 billion to their stockpile in the first nine months of 2020, the World Gold Council said on Thursday.

Where are prices heading next? Watch The Gold & Silver Club Commodity Report now with Phil Carr for the latest price forecasts and predictions:

Author

Phil Carr

The Gold & Silver Club

Phil is the co-founder and Head of Trading at The Gold & Silver Club, an international Commodities Trading Firm specializing in Metals, Energies and Soft Commodities.

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