Spot Silver Price Breakout
Cassie Bastien
2/23/2018 9:22:58 AM
Daily Gold & Silver Market Report – 02/23/2018
Seeking Alpha Reporter Robert Kientz says because of inflation and the weakness in the U.S. dollar, we are looking at a potential breakout within Gold and especially Silver prices, as both hold a very volatile nature. It has been a long time coming since Silver investors and traders have witnessed an extreme rise in spot prices. However, Kientz says there are indications Silver's recent “price slump” is about to end for real.
Precious Metals Investors Say Gold Price Nears Bullish Levels
Although spot Gold is up more than 6 percent since mid-December, the yellow metal has not seen much demand or any extreme price spikes, causing somewhat of a cloud over the excitement of volatility. The highs for both 2016 and 2017 was about $1,375 an ounce, so many Gold investors are confident if Gold spot can break that, there is a serious potential for “ultra-bullish” activity within the Precious Metals market. Moreover, CNBC Reporter Matt Maley said, “That level is the top line in an "ascending triangle" pattern, so a break above that level would prove quite bullish.”
Has The Stock Market Peaked?
Nearly half of hedge fund investors think equities peaked at the end of 2017. “The largest share of investors in five years plans to increase exposure to hedge funds in 2018, according to the report by data firm Preqin,” reporter Michael Nagle with CNBC said. Amy Bensted, head of hedge fund products at Preqin, said in a statement, “This may be largely due to an expected correction in equity markets.”
At 11:22 a.m. (ET), the APMEX Precious Metals spot prices were:
- Gold, $1,331.30 Down $1.90
- Silver, $16.62 Down $0.10
- Platinum, $997.00 Down $4.40
- Palladium, $1,048.00 Up $16.50
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APMEX Market Reports provide our readers with a review of spot price activity and some of the factors that may be affecting the market for Precious Metals. While the information is obtained from sources we believe to be reliable, we do not guarantee its accuracy or its completeness and we encourage you to conduct your own investigation prior to making any decision based on the information. The Market Reports are not intended as a comprehensive discussion and there may be other factors affecting the financial marketplace. These Market Reports are provided for informational purposes only and do not constitute a recommendation by APMEX to hold, purchase or sell any Precious Metal product. All orders, purchases and sales, if any, are subject to the terms of the User Agreement and other applicable policies
