Silver brings interest income. Against this background, the precious metal is quite sensitive to expectations for US monetary policy. Today, the US regulator will publish the next decision. Rate hike is not expected, but the market will closely monitor the tone of the accompanying statement. Considering that in recent years, macroeconomic data signaled a relatively stable economy (the number of jobs is growing, growing and hourly wages, which allows glad inflation on salary level, and demonstrated positive dynamics of retail sales), you can expect that its tone will be quite aggressive. Against this backdrop, the dollar may strengthen across the board.
In the area of 15.720 level it marked a strong enough support. And approach the barrier traders showed caution because no additional catalysts to pass it would be difficult. But as soon as he is overcome, activated the “bears” and the price moves towards the lows marked in March of this year.
Silver (XAG/USD) – sell silver – Entry price: 15,720. Goal: 15,383. Stop loss: 16,062Warning: Profitability in the past does not mean profitability in the future. Any projections are for informational purposes and do not guarantee the results obtained.