While silver prices have had a bad year since the beginning of the year; Investors wonder how the next course will be… Which developments are important on silver? What direction could the prices be? Here is the expert comment…
Ounce Silver prices hit the highest level since June 29, right after the announcement of the US July inflation figures, which were announced last Wednesday and came below the expectations. While silver prices moved in a downward trend on the last trading day of the week; Many experts agree that the main trend in silver prices may be up. Eral Karayazıcı, Inveo Portfolio Fund Management Manager, evaluated the direction of silver to Şenay Zeren from hurriyet.com.tr.
While the steps of the major central banks (the US Federal Reserve, the European Central Bank, the Bank of England) towards the interest rate increase policy have a direct impact on precious metals; silver prices are one of the most affected by these. In addition, since silver is used as an industrial material, it is directly affected by global economic growth and recession concerns.
