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Binance: All services have returned to normal and we will closely monitor developments.U.S. Trade Representative Greer: Significant progress has been made in trade negotiations with Cambodia, which will bring more export opportunities for American farmers.1. All three major U.S. stock indices closed lower, with the Dow Jones Industrial Average down 1.9%, the S&P 500 down 2.71%, and the Nasdaq down 3.56%. Amazon fell over 5%, and Nvidia fell nearly 5%, leading the Dow lower. The Wind US Tech 7 Index fell 3.65%, with Tesla down over 5% and Facebook down nearly 4%. Chinese concept stocks fell across the board, with Daquan New Energy down over 14% and GDS down over 13%. For the week, the Dow Jones Industrial Average fell 2.73%, the S&P 500 fell 2.43%, and the Nasdaq fell 2.53%. 2. All three major European stock indices closed lower, with the German DAX down 1.5%, the French CAC 40 down 1.53%, and the UKs FTSE 100 down 0.86%. For the week, the German DAX fell 0.56%, the French CAC 40 fell 2.02%, and the UKs FTSE 100 fell 0.67%. 3. U.S. Treasury yields fell across the board, with the 2-year Treasury yield down 1.63 basis points to 3.572%, the 3-year Treasury yield down 2.22 basis points to 3.586%, the 5-year Treasury yield down 2.25 basis points to 3.708%, the 10-year Treasury yield down 1.95 basis points to 4.117%, and the 30-year Treasury yield down 1.47 basis points to 4.707%. 4. International precious metals futures generally closed higher, with COMEX gold futures up 1.58% to $4,035.50 per ounce, a weekly gain of 3.24%. COMEX silver futures rose 0.76% to $47.52 per ounce, a weekly loss of 0.94%. Federal Reserve Chairwoman Mary Daly indicated that monetary policy remains moderately tight and further interest rate cuts are possible. U.S. economic data showed weak consumer confidence and rising debt risks, boosting demand for gold as a safe haven. 5. International oil prices closed lower across the board. The main contract of U.S. oil fell 5.32% to $58.24 per barrel, down 4.34% for the week; the main contract of Brent crude fell 4.8% to $62.09 per barrel, down 3.78% for the week. 6. London base metals fell across the board, with LME tin futures down 4.61% to $35,350.00/ton, down 5.62% for the week; LME copper futures fell 4.54% to $10,374.00/ton, down 3.19% for the week; LME aluminum futures fell 1.88% to $2,746.00/ton, up 1.35% for the week; LME nickel futures fell 1.79% to $15,215.00/ton, down 1.41% for the week; LME zinc futures fell 0.86% to $2,984.50/ton, down 1.65% for the week; and LME lead futures fell 0.76% to $2,014.50/ton, down 0.27% for the week.Frances new Prime Minister Le Cornu: Improving Frances public finances remains a top priority.Frances new Prime Minister Le Cornu: No one can avoid the need to restore Frances public finances.

Silver Price Forecast – Silver Markets Gap Lower

Alina Haynes

Jun 15, 2022 11:24

 截屏2022-06-06 下午5.54.42.png 

Technical Analysis of the Silver Markets

Silver markets have discovered themselves to be in significant difficulty on Tuesday after initially gapping lower. Yes, we filled the gap as futures markets generally do, but at that time, we ended up seeing a lot of sellers come back into the market and punish it. As a result, we should expect to see further selling pressure and a continuation of the dismal two weeks we've had so far.

 

Given enough time, the market may eventually touch the lows of $20.42 before falling to the $20 level. The fact that something is possible doesn't indicate that it will happen straight away or even be simple. However, it's important to remember that the market is almost certainly going to be quite volatile.

 

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Even if we do rise from here, I won't be satisfied that the trend has changed until we break above the $23 level. That does not look very realistic, therefore at this time, I anticipate that we have much further to go to the downside. For as long as the US dollar is strong, it's hard to see silver becoming a desirable asset class.

 

If you're looking for a way to protect against inflation, look no further than gold. Due to the fact that gold lacks the industrial component that silver has, it acts as a noise buffer. Nonetheless, this is a market that looks dreadful, and I see no reason to get long of silver anytime soon. Fading short-term rallies has succeeded so far.


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