Silver prices are expected to move between $17.60 and $18.60 this week. Any weakness in gold prices is likely to negatively influence the price of silver.
Many market participants would consider it a buying opportunity if the price of silver were to decline to the lower end of the above stated range.
In the event that prices settle below $17.60, there is a possibility that prices slip to $17.50. Silver prices typically weaken during this time of the year because of seasonal weakness in demand for the metal.
Investors are likely to use any weakness in prices as a buying opportunity, however, given the positive medium to long term fabrication demand fundamentals of silver.
This coupled with any short-term concerns regarding the prospects of the global economy also are likely to bode well for the price of silver, because of its safe haven quality.
Many market participants would consider it a buying opportunity if the price of silver were to decline to the lower end of the above stated range.
In the event that prices settle below $17.60, there is a possibility that prices slip to $17.50. Silver prices typically weaken during this time of the year because of seasonal weakness in demand for the metal.
Investors are likely to use any weakness in prices as a buying opportunity, however, given the positive medium to long term fabrication demand fundamentals of silver.
This coupled with any short-term concerns regarding the prospects of the global economy also are likely to bode well for the price of silver, because of its safe haven quality.
