The silver market cooled down in the past week. Will the price of silver remain close to $20? Or will it resume its downward trend? This week, several news items will be released and could influence silver investors. Let’s analyze the main events and publications that may move silver and silver ETFs.
The recent fall in the price of silver has reflected in a drop in the demand for silver ETFs including iShares Silver Trust (SLV). During last week, the Silver Trust’s price decreased by 2.2%. Moreover, some other Silver investments such as Silver Wheaton (SLW) dropped by 3.2%. For Silver Wheaton, the company’s recent quarterly earnings report may have also moved its stock. This week, the forthcoming speech of Janet Yellen, the U.S housing data reports, retail sales, Philly fed survey, the progress of gold, and the direction of the U.S dollar could affect the price of silver. Let’s examine these issues.
U.S economy and silver
The progress of the U.S economy could play a significant role in determining the progress of silver. This week, the housing data reports (housing starts, building permits), retail sales and Philly fed survey could influence market sentiment.
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