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June 25th Early Week Silver Market Update

The long and treacherous slide that gold and silver have made since last Thursday has at least been slowed down in the early parts of Tuesday. A corrective bounce, albeit small, helped precious metals begin Tuesday in a better position than where they ended Monday. A potentially large economic and financial crisis has seemingly been avoided in China, though this is not for certain quite yet. With a small slate of economic data set to be released this week will likely prevent precious metals from being able to make any lasting moves forward.

China Avoids Potential Disaster

Yesterday the main story making headlines centered around a potential financial and economic crisis that was looming over China. Over the past few months all we have been hearing about the world's second largest economy is that they might be on their way to being downgraded. Highlighted by disappointing manufacturing and economic numbers, it is safe to say that the first half of 2013 simply isn't going China's way.

Yesterday, the words "liquidity crisis" were on everyone's tongues though only a day later the nation's monetary officials have announced that the cash crisis has been corrected and things are stabilizing. Because of the potential liquidity crunch, the Chinese economy was thrown into a bit of a frenzy as the Chinese stock market lost a lot of value. This scenario was also corrected on Tuesday as stocks were doing better thanks to the monetary official's announcement that liquidity issues were only a temporary problem. In fact, Asian stocks across the board have had a better run of things on Tuesday. The real test will be whether the Asian economies can sustain a decent run of form for the duration of this week and moving forward, something that no person would be willing to wager a lot of money on at this point.

Rest of the World News

While the US and its monetary officials continually hint to that monetary policy may be changed dramatically sometime soon, other central banks around the world have sentiments that are very much to the contrary. These calmer approaches to monetary policy in the current world economy have done well to calm down the world marketplace, at least a little bit.

A newspaper out of Europe quoted an Italian bank that said Italy may need another bailout before too long. Italian credit is diminishing rapidly as their overall economy is declining in value more and more as each week passes. While it may be an almost certainty that Italy needs another financial bailout, it is uncertain whether the EU or any of the countries that comprise it will approve a bailout package considering Italy is not the only European country facing economic and financial problems.

Though it is uncertain how precious metals will act throughout the duration of the week, one thing that is certain is that bargain hunters will be out in full force buying silver and gold due to their currently low spot values.

Posted in Market Updates

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