Silver Seems To Be Heading Towards An Higher Trading Zone
Satendra Singh | Jun 25, 2017 09:40PM ET
Silver futures price seems to be heading towards a Higher Trading Zone during the Week of June 25th, 2017.
On analysis of the movement of silver futures in different time zones, I conclude that the silver futures price is heading towards a target of $17.755 during the Week of June 25th, 2017.
Secondly, statement given by St. Louis Federal Reserve President James Bullard on Friday seems too evident enough to provide a good strength to the precious metal, especially silver. He said:
Recent inflation data have surprised to the downside and call into question the idea that U.S. inflation is reliably returning toward target. The Fed can wait and see how the economy develops before making any further adjustments.
No doubt that the upcoming remarks by Fed Chair Janet Yellen on Tuesday for fresh indications on the timing of further rate hikes and signals on plans to trim the Fed’s balance sheet will be the final decisive factor. I find that a little bit of hawkishness will provide a fresh strength to the precious metals.
Have a nice trading week.
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