➡️ Metal prices rose thanks to the combined effects of inflation and geopolitics. Near-term momentum for metals remains positive, but upside looks limited as the Fed's resolve to raise rates, potentially weaker non-investment demand and a stronger dollar could dampen gains in silver and gold.
A combination of inflation and geopolitical risks could push metals higher in the short term, but growth will be limited as US yields look stable and underlying non-investment demand could be undermined by high gold prices.
The Fed's determination to normalize monetary policy, coupled with more moderate fiscal spending in most countries, is likely to put pressure on metals in the second half of the year and beyond, and further modest gains in the US dollar are also likely to dampen the rally in silver and gold. Decreasing geopolitical tensions or slowing inflation could also trigger a pullback.
At the moment, the considered metal Silver is trading at the level of 25.86. The price is presumably in balance and most likely will go to its lower border at the beginning of the week. Sales are current from current prices. The target is at the level 25.35160. When passing half of the planned range to the target, a good option would be to transfer to breakeven with partial profit taking (approximately this is the level of 25.61435).
A scenario is not ruled out in which the price breaks up again and then closes again within the balance. In this case, sales will still be relevant and it will be possible to enter when the instrument is closed inside the balance again (approximately shown by dotted lines).
➖➖➖➖➖➖➖
👍Thanks for your comments and likes👍
👇🔥LINKS TO PREVIOUS IDEAS AND FORECASTS🔥👇
A combination of inflation and geopolitical risks could push metals higher in the short term, but growth will be limited as US yields look stable and underlying non-investment demand could be undermined by high gold prices.
The Fed's determination to normalize monetary policy, coupled with more moderate fiscal spending in most countries, is likely to put pressure on metals in the second half of the year and beyond, and further modest gains in the US dollar are also likely to dampen the rally in silver and gold. Decreasing geopolitical tensions or slowing inflation could also trigger a pullback.
At the moment, the considered metal Silver is trading at the level of 25.86. The price is presumably in balance and most likely will go to its lower border at the beginning of the week. Sales are current from current prices. The target is at the level 25.35160. When passing half of the planned range to the target, a good option would be to transfer to breakeven with partial profit taking (approximately this is the level of 25.61435).
A scenario is not ruled out in which the price breaks up again and then closes again within the balance. In this case, sales will still be relevant and it will be possible to enter when the instrument is closed inside the balance again (approximately shown by dotted lines).
➖➖➖➖➖➖➖
👍Thanks for your comments and likes👍
👇🔥LINKS TO PREVIOUS IDEAS AND FORECASTS🔥👇
