Silver price makes a move above $30, analysts say it’s just getting started

Kitco NEWS has a diverse team of journalists reporting on the economy, stock markets, commodities, cryptocurrencies, mining and metals with accuracy and objectivity. Our goal is to help people make informed market decisions through in-depth reporting, daily market roundups, interviews with prominent industry figures, comprehensive coverage of important industry events and analyses of market-affecting developments.prices have broken above $30 an ounce. July silver futures last traded at $30.

“Long-term trends are also on the bulls' side. In the last two years, they have been able to quickly turn the price to the upside after dips under the 200-week moving average. This year, the price is successfully pulling away from that line, but the most furious part of the rally may be ahead,” he said. “Silver could be ready to repeat the growth spurt it showed in 2010-2011.”tends to outperform in a higher inflationary environment.

She explained that rising geopolitical uncertainty and renewed pressure to onshore manufacturing in the U.S. will drive prices higher and weaken the U.S. dollar.is telling us that we have fractures in the economy, but we don’t know how these fractures are going to manifest,” she said. “Is it going to lead to a debt crisis? Is the Fed going to have to lower rates? Either way, we should expect to see higher inflation.

Ole Hansen, head of commodity strategy at Saxo Bank, noted the breakout could lead to sustainably higher prices. He added that platinum prices are also making a move.

Source: Financial Digest (financialdigest.net)

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