Will This Week’s Releases Break Silver Free from Its $20 Price Range?

As you can see, in the past four meetings the price of silver tumbled down the day after the FOMC released its press release.   Moreover, the table also shows the negative impact the tapering decisions had on the price of silver has slowly diminished.

The silver market didn’t do much last week as the price of silver slightly rose. This week there are many items on the agenda, which could stir up the silver market. Let’s analyze the main events and publication that may affect the price of silver and silver ETFs.

The modest gain in the price of silver has reflected in a slight rise in the demand for silver ETFs such as iShares Silver Trust (SLV). During last week, the Silver Trust’s price inched up by 0.3%. Moreover, other Silver investments such as Silver Wheaton (SLW) also bounced back by 2.7%. Looking forward, the upcoming FOMC meeting, the U.S non-farm payroll report, U.S GDP for the first quarter of 2014, the progress of the U.S dollar, and the demand for silver in Asia could affect the price of silver. Let’s examine these issues.

U.S economy and silver

This week, the FOMC will convene again for its third meeting this year. This time, there won’t be any press conference.

As you can see, in the past four meetings the price of silver tumbled down the day after the FOMC released its press release.   Moreover, the table also shows the negative impact the tapering decisions had on the price of silver has slowly diminished.

For the rest of the report you can see it at Seeking Alpha

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