KQMarkets

Silver - Neutral Pre US inflation data

FX_IDC:XAGUSD   Silver / U.S. Dollar
We have changed our view from short to neutral as Silver has continued it strong upward momentum and consolidated above resistance at $26.6. There has been an increased demand for Silver for protection against the risk of rising inflation and it's uses for industrial production including electrical vehicles and solar panels. Silver is therefore expected to benefit from Biden's proposed $2.3 trillion infrastructure bill and we await US inflation data tomorrow for any significant price action.