Silver - Neutral

FX_IDC:XAGUSD   Silver / U.S. Dollar
Silver has dropped dramatically over the past month from nearly $19 not below $12 and we long view which we had to abandon our long view when it fell below support at $15.5. We feel it's still too risky to take a directional view on Silver at present because despite it's status as a safe haven it's price is also impacted by industrial demand. Therefore the level uncertainty due to the coronavirus would lead us to only change our view to long if prices were to consolidate above $15.