News from thestreet.com this week on silver prices could be of interest for those looking to keep their eye on silver.
“Futures traders are wondering what is up with silver prices this week, which slid down below $18 per-ounce, the lowest prices since late June, 2016 – right after the June 23rd Brexit vote. Analysts are calling it the largest one- and two-day price decline in silver since January 2015. Silver futures for November and December of 2016, and January and February, 2017, are in decline this week, hovering between $17.70 and $17.90. read more at thestreet.com
Several analysts were interviewed to provide a broad perspective on the outlook for silver, including Charles Thorngren, CEO of Noble Gold. Mr. Thorngren’s 20-year background with financial investments and precious metals brings a well-seasoned perspective to the twists and turns of silver. He said to The Street:
“Silver prices at the end of the year should be in the $22.00 dollar range,” says Charles Thorngren, chief executive officer at Noble Gold Investments, in Pasadena, Calif. Thorngren says that with the Fed’s constant misdirection on rates, the markets are left without any defining catalyst for strong sustained increases. “With that said, the Fed has no choice but to maintain their current vocal policy of increases, while actually doing nothing because of the election,” he offers. “The Fed will not be drawn into the political battle now raging in the public’s eyes, as well as behind the scenes in Washington.”read more at thestreet.com
The article does also mention negative interest rates and their impact on markets, another important issue that Mr. Thorngren commented on, saying:
Although it sounds like a scary Halloween story, negative rates are a real event and a force of strength for metals worldwide,” Thorngren states. “The pressure this will put on metals is significant, and it should really provide movement of metals in the spring of 2017.
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Article courtesy: Noble Gold