Bearish Betting on Silver Results Short-Term Contrarian Play

Sierra Metals Silver Bars

Credit: KevinSpiro / CC-BY-SA 3.0

Due to a continuous rising of the US Dollar in London stock exchange recently, the gold prices started lowering against the US dollar.

The economic analyst across the globe blamed it on the President Trump’s trade policy with China and also on his Twitter attacks on e-tailing giant Amazon.

Though the industrial, energy and agricultural commodities prices have steadied in the NYC stock market the silver rose at $16.55 per ounce. The effect of the intensified US-China trade war is surely going to show on the Gold and Silver prices, and are likely to skyrocket. Also, the world stock markets are likely to be shaken. But the silver is likely to gain more advantage.

It is also a fact that the manufacturing index in the USA has missed the forecasts by the experts and that the orders sagged to a 7-month low with production touching a 5-month low in the year 2018 as per the noted economist David Rosenberg, and has affected the silver price globally.

Day by day platinum and gold prices going out of reach of the common man, (through the investment point of view) the third next precious metal silver, is sure to shine more!

Leave a Reply

Your email address will not be published. Required fields are marked *