Silver Prices Could Motion Greater
Uncertainty in global politics and an improving economic picture should sustain the recent jump in silver prices, likely pushing them higher. Silver futures have risen 14% since the start of the year, on the back of a 16% gain in 2016, their best annual performance since 2010. The precious metal has outperformed gold, which is up 8% this year; silver tends to track gold’s price direction, though with bigger swings. Investors seeking safe assets amid an increasingly unstable political backdrop are driving much of the demand for precious metals. Concern over the United Kingdom’s decision to leave the European Union crept back into the market last week, as Prime Minister Theresa May triggered negotiations for Brexit on Wednesday. The new administration in the U.S. has also caused jitters, as investors fret that a failed health-care reform bill indicates impending struggles to deliver on tax reform and fiscal stimulus . “Political uncertainty is keeping the gold market afloat,” says Bob Haberkorn, senior market strategist at RJO Futures. And silver should follow gold higher.One of the biggest risks for the metals is the likelihood that the Federal Reserve will boost short-term interest rates. Gold and silver sold off after the central bank raised rates in December and March, but prices rebounded gradually as investors turned to focus on risks that could threaten the market’s positive sentiment.
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Silver Price Equal Off with Notable Support
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BENGALURU, FEB 27:
Gold prices held firm on Monday near 3-1/2 month highs hit in the previous session, with investor...
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