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Silver Prices to See Range-Bound Trading

Silver market now lacks a clear direction, with range-bound trading expected, SMM interview shows. 

“Silver prices on the SHFE are expected to trade 3,600-3,800 yuan per kg in the short term,” an analyst from Guotai Junan Futures told SMM in a recent interview. 

Fading risk-aversion sentiment deprived the rising momentum of precious metals , said the analyst, adding the message of no interest rate hike any time soon in the US after its most-recent policy meeting also limited the downside of the metal. 

“Precious metals will lurch higher if results of upcoming US data are disappointing,” the analyst noted.

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