IGI Securities Limited – Commodity News

Karachi, March 14, 2019 (PPI-OT): Silver

Technical

Silver markets initially rallied during the trading session yesterday, showing signs of exhaustion. By forming a bit of a shooting star, that is a very negative sign for investors, and it’s likely that the $15.60 level is going to continue to cause a significant amount of resistance. Ultimately, even though the Gold markets look very bullish, it appears that silver is starting to diverge from gold. If that’s the case, one of these precious metals markets are rapidly becoming mispriced. Granted, silver does tend to lag gold, so there is the possibility that silver place catch up. At this point, if it break down below the $15.45 level, it probably have further downside ahead. Alternately, if it break above the $15.60 level, it will more than likely continue to go much higher, perhaps the $16.00 level. Therefore silver is going to be difficult in the short term.

Highlights

Silver was up 0.1 percent to $15.45 per ounce, having earlier touched its highest since March 1

Silver prices were little-moved on the PPI report and it also silver prices to strengthen before end-2019

May Comex silver was last up $0.082 at $15.495 an ounce

Precious metals have ticked higher as strength in the U.S dollar index

There are still no major geopolitical hotspots to roil the marketplace and dent the keener investor risk appetite

Fundamentals

Silver prices are higher and hit two-week highs in early U.S traded yesterday. Chart-based buying and bargain hunting are featured this week. Another mild U.S inflation report yesterday is also bullish for the precious metals markets.

Silver prices on the European market also hit a two-week high yesterday, extending gains for the second day in a row, supported by the fall of the US dollar against a basket of currencies and the current high demand for precious metals as safe havens.

Silver prices rose 0.45% to be dealt at $15.50 an ounce, over the opening at $15.43, recording its highest since the 1st of March at $15.52 and a lowest at $15.41.

Silver prices gained 1.2% on Tuesday, the second gain in the last three days, with most of the US dollar denominated metals climbing. The continued decline of the dollar levels comes after a 10-year Treasury yields fall to a two-month low.

The dollar index fell around 0.2% yesterday, continuing its losses for the fourth day in a row, hitting a two-week low, reflecting the continued decline of the US currency against most major and minor currencies.

Silver prices also were supported by the high demand for precious metals as safe havens, amidst the uncertainty surrounding the UK’s Brexit from the EU. Silver should pick up in 2019 on a bounce from a weak 2018, as well as higher prices by end of the year.

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IGI Securities Limited – Commodity News

Karachi, March 14, 2019 (PPI-OT): Silver

Technical

Silver markets initially rallied during the trading session yesterday, showing signs of exhaustion. By forming a bit of a shooting star, that is a very negative sign for investors, and it’s likely that the $15.60 level is going to continue to cause a significant amount of resistance. Ultimately, even though the Gold markets look very bullish, it appears that silver is starting to diverge from gold. If that’s the case, one of these precious metals markets are rapidly becoming mispriced. Granted, silver does tend to lag gold, so there is the possibility that silver place catch up. At this point, if it break down below the $15.45 level, it probably have further downside ahead. Alternately, if it break above the $15.60 level, it will more than likely continue to go much higher, perhaps the $16.00 level. Therefore silver is going to be difficult in the short term.

Highlights

Silver was up 0.1 percent to $15.45 per ounce, having earlier touched its highest since March 1

Silver prices were little-moved on the PPI report and it also silver prices to strengthen before end-2019

May Comex silver was last up $0.082 at $15.495 an ounce

Precious metals have ticked higher as strength in the U.S dollar index

There are still no major geopolitical hotspots to roil the marketplace and dent the keener investor risk appetite

Fundamentals

Silver prices are higher and hit two-week highs in early U.S traded yesterday. Chart-based buying and bargain hunting are featured this week. Another mild U.S inflation report yesterday is also bullish for the precious metals markets.

Silver prices on the European market also hit a two-week high yesterday, extending gains for the second day in a row, supported by the fall of the US dollar against a basket of currencies and the current high demand for precious metals as safe havens.

Silver prices rose 0.45% to be dealt at $15.50 an ounce, over the opening at $15.43, recording its highest since the 1st of March at $15.52 and a lowest at $15.41.

Silver prices gained 1.2% on Tuesday, the second gain in the last three days, with most of the US dollar denominated metals climbing. The continued decline of the dollar levels comes after a 10-year Treasury yields fall to a two-month low.

The dollar index fell around 0.2% yesterday, continuing its losses for the fourth day in a row, hitting a two-week low, reflecting the continued decline of the US currency against most major and minor currencies.

Silver prices also were supported by the high demand for precious metals as safe havens, amidst the uncertainty surrounding the UK’s Brexit from the EU. Silver should pick up in 2019 on a bounce from a weak 2018, as well as higher prices by end of the year.

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