The price of silver declined again during last week. Is silver bound to recover anytime soon? Let’s examine the recent news that may affect silver and the silver ETFs.
The recent fall of silver has reflected in the decline in demand for silver ETFs such as iShares Silver Trust (SLV). During last week, the Silver Trust’s price dropped by 2.3%. Other Silver investments such as Silver Wheaton (SLW) also plunged by 7.5%. Looking forward, the upcoming non-farm payroll report, the progress of gold, and the direction of the U.S dollar could be among the factors affecting the price of silver. Let’s examine these issues.
U.S labor market and silver
This week, the U.S non-farm payroll report will be released. In the previous report, 175,000 jobs were added during February – higher than expected. The table below shows the changes in the price of silver, USD/Yen and the rise in employment.
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