Silver Market Price Estimate as of Sept. 12 – A Quick Analysis
A good ounce of the discussion around precious metals during the last couple of days has revolved around the unexpected climb in the price of gold into the mid-1350 range and beyond – and whether or not this will brach these levels.
Silver markets retrated on Monday as anxiety eased involving hermit state North Korea and its nuclear tests, but Wall Street analysts are of the opinion the silver market will make a quick recovery and get back on track and later on breach the $18 mark once more.
Analysts believe this will result to a buying opportunity given the proper time, and they also are certain there will be lots of support below.
After all, the initial hour candle for today’s trading looks very postive, forming a massive hammer. Given enough time, Wall Street traders expect that Silver will continue its advance as it has over the past few months.
Meanwhile, silver, often seen an alternative to the precious yellow metal gold, has made an impressive 13 pct increase since early July.
As gold makes a strong performance, so does silver as well as the miners behind it. As silver emerges to be more valuable to them they can have the luxury to refine more of it.