Indices closed yesterday’s trading sessions in green and started this morning in the same way with risk on still dominating sentiment. Moreover, the greenback is strengthening, and EUR/USD is getting closer to 1.20. As a result, investors are not keen on increasing their position on gold and bullion declined to $1,835. The last few hours have shown little volatility, after an attempt to recover to $1,850 was stopped.
Meanwhile, the silver story seems to be reduced to a temporary accident. Indeed, the grey metal jumped on the early trading on Monday above $30, before sharply falling yesterday. As we predicted, moving silver is much more complicated than manipulating a small crypto or a single stock and the quick rise was mostly absorbed by the markets.
After the collapse of yesterday, silver is taking a breath and consolidating, but it is hard to see any future movements for the grey metal on its own and not in conjunction either with other metals rallying or at least with fundamental support.
