Metals

Silver Rally Pauses but Has It Stopped?

Posted 09/13/2019 9:21AM CTEric Scoles

Dec ’19 silver futures are trading in the same narrow range they have been since September 9th as the rally pauses and global anxiety seems to stabilize. Silver prices have been supported by a softening dollar index and bullish ECB news. As the fear of recession fades and the trade war simmers down the confidence in other markets, it puts pressure on the top heavy precious metals. Bears are cautious to be short on silver though because a single tweet could wipe out the positive tone in other markets. Silver according to my analysis is still undervalued compared to gold, which could provide opportunity for the bulls.

Eric Scoles

Eric entered the workforce during the summer of 2007 as an apprentice tradesman just before the big crash and recession which followed. The impact of which strongly inspired his interest in the financial industry and began him as a student of the markets. Eric worked throughout the following years developing strong communication skills and risk management practices in the aviation and marketing industries before ultimately getting licensed and turning his passion into a career as a market strategist with RJO Futures.