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On May 26, the Financial Times reported that the EU ambassador to Kyiv, facing the latest threats from Russia, stated that she and other diplomats were "not going anywhere!" "What Russia wants is fear, panic, and the isolation of Ukraine. This will not succeed." The report stated that several other embassies, including those of G7 countries, confirmed that ambassadors and diplomats remain in Kyiv and have not evacuated.On May 26, Al Jazeera reported on May 25 that a source familiar with the talks between the high-level Iranian delegation in Doha stated that, with Qatars mediation, the United States and Iran have reached an understanding on the issue of frozen Iranian financial assets. The source said that because the frozen financial assets are crucial to Iran, the two sides are "very likely" to announce an agreement tomorrow.Maximo Pacheco, chairman of Chiles state-owned copper company, announced his resignation.According to Al Arabiya, Ibrahim Aziz, chairman of the Iranian parliaments National Security Committee, said that any agreement between Iran and the United States would not mark the end of the confrontation between the two countries, and called the conflict "fundamental and existential" for Tehran.On May 26, the Russian Foreign Ministry website published a statement on May 25 saying that Russian Foreign Minister Sergey Lavrov spoke by phone with US Secretary of State Marco Rubio that day. Following instructions from Russian President Vladimir Putin, Lavrov informed the US that Russia had begun a systematic offensive against military facilities in Kyiv, the capital of Ukraine. Lavrov stated that in response to Ukraines continued attacks on Russian civilians and civilian facilities, the Russian military was conducting systematic and sustained strikes against facilities in Kyiv serving the Ukrainian Armed Forces. He reminded the US of the statement issued by the Russian Foreign Ministry that day and advised US diplomats and citizens to evacuate from Kyiv. The statement also said that the two sides exchanged views on the Strait of Hormuz and the situation in Cuba. Furthermore, both sides expressed their commitment to intensifying efforts to normalize the work of their respective diplomatic missions.

Silver Price Prediction - Silver Pulls Back Once More

Alina Haynes

Aug 16, 2022 11:29

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Silver markets have retreated somewhat during Monday's trading session as the 50-day exponential moving average (EMA) continues to act as a bit of a price magnet, and of course, we are sitting in a region that has a large amount of market memory. The candlestick is obviously pretty ugly, and a break below the $20 level on a daily close might spark a significant amount of selling. Moreover, if interest rates continue to exhibit signs of growth, this could exert additional downward pressure on silver.

 

China's apparent slowdown and the fact that silver is an industrial metal only serve to exacerbate the situation. In other words, the question will be whether there will be sufficient demand for silver to maintain high prices. Currently, the $21 level appears to be a strong resistance barrier that will be tough to overcome; if we could, the market may reach the $22 level.

 

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As of late, the market has been exceedingly raucous, having soared to the sky. At this time, the concern is whether or not we have the potential to fall hard enough to fill the gap below, which is at the $19.00 mark. In this circumstance, a major decline is just waiting to occur. Pay particular attention to the US dollar, as it will have a significant impact on what occurs next, since a strengthening US currency normally has a negative effect on the silver market.

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