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New York silver futures fell to $47 an ounce, down 0.35% on the day.On October 10th, the head of the local governments disaster risk reduction office announced that a 7.4 magnitude earthquake struck the Philippines, killing one person in Mati City, Davao Oriental Province. DZBB Radio also reported that one person was killed in Pantucan Town, Davao Oriental Province. According to the latest news from the Philippine Institute of Volcanology and Seismology, a 5.8 magnitude earthquake struck the sea east of Davao Oriental Province in the southern Philippines at 11:32 a.m. local time on the 10th, with a focal depth of 10 kilometers.On October 10, Bridgewater Associates founder Ray Dalio reiterated his warning about the rapid growth of US government debt, believing that this is brewing a situation "very similar to the eve of World War II." He said that when debt increases relative to income, it is like plaque in the arteries, which then begins to squeeze spending. Dalio has long warned about the risk of spiraling debt in the United States, and last month he insisted that this is posing a "threat to the monetary order." He blamed politicians from both parties and called for a combination of tax increases and spending cuts to address what he called the "deficit/debt bomb." Dalio believes that surging debt is only part of the problem. He said that worsening global conflicts and wealth inequality are also working together to create an environment where "there is a lot to worry about."TD Cowen: Raised AMD (AMD.O) target price from $195 to $270.TD Cowen: Raised Intel (INTC.O) price target from $20 to $35.

Silver Price Prediction: Silver Markets Recover

Alina Haynes

Jun 24, 2022 15:12

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The silver market began Thursday's trading session with a sharp decline, reaching $21 per ounce. Considering that the $21 level has been significant on several occasions, I believe it is just a matter of time until volatility returns to this market. The $22 level above is a place of resistance; thus, if we do rebound, you must pay special attention.

 

The 50 Day EMA is currently at $22.39 and falling. This implies that a certain level of dynamic resistance should enter the picture. I believe that any balance will be sold because, obviously, there are several concerns over industrial demand and the rising of the US currency. Long-term, all of these factors work against silver, but inflation tends to benefit it. In such a circumstance, the only predictable response is likely to be a great deal of volatility, but that does not distinguish silver from other markets.

 

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Breaking below the $21 level enables a decline to the $20.50 level, and potentially even the $20 level. A breach of the $20 level would be extremely negative for silver, opening the door to the $18 level. If we were to rebound and break through the 50 Day EMA, it is conceivable that we may see an attempt to reach the $23 level, but I believe it would require much work.


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