medication without prescription online

September 9th Early Week Silver Market Update

After beginning the day receiving some short-covering support, precious metals have once more begun to trend downwards. Though the first two days of this week have proved to be relatively quiet, the market still has plenty to focus on. Unfortunately for precious metals, the market is becoming increasingly bearish by the day. There was one key Federal Reserve report out today, but other than that, the market's focus has been solely placed on currency markets from around the world.

According to reports from around Europe, the ceasefire in pace between Russian/pro-Russian and Ukrainian military forces seems to be holding. The last few weeks have played host to some intense fighting throughout much of Eastern Ukraine, so it will be interesting to see how long this ceasefire holds. Even though the situation in Ukraine has failed to provide much of any support for precious metals in recent weeks, the threat of wider-spread violence was always lying in wait, threatening to provide bullish underlying support for metals.

Gold Trending Lower, USD Moving Higher

The US Dollar has hit a 14-month high against the Yen while the USD Index hit yet another 13-month high during early US trading today. The progress of the US Dollar alone is preventing gold and silver spot values from making strides forward. It seems as though every time the spot values of gold and silver tick up slightly, the USD index is following quickly behind to knock spot values down once again.

Today, a Federal Reserve survey was released and had investors convinced, once again, that interest rates in the US will be raised sooner rather than later. The study then went on to indicate that perhaps investors are currently underestimating the degree to which interest rates will be raised. While both of these two pieces of data provided the greenback with some support, a growing belief that Scotland will vote to become independent did not hurt. It is now widely believed that a majority of those in Scotland will vote to become independent from the Crown and, as such, the value of the British Pound took a hit.

This week has proven to be fairly quiet thus far, and as the week plays out I imagine that the focus of the marketplace will remain fixated upon currency markets from around the world. The US Dollar has really been dictating the marketplace lately, so I see no reason why such will not prove to be the case as the rest of the week plays out.

Posted in Market Updates

Leave a Reply

Your email address will not be published. Required fields are marked *

*

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>