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.
Zhejiang Yaang Pipe Industry Co., Limited