Precious metals were interesting and volatile overnight but they surprisingly fell as the initial news crossed the wires about China’s trade threats – usually, such action would have led to a rally. Silver has been front and centre in the news this week, often a sign it’s time for a commodity to take a rest. We wouldn’t consider going short the strong bull market, but it feels “toppy” short-term after one stage falling ~6% in a matter of hours.
- We can see silver consolidating its recent impressive gains over the coming weeks.
MM is neutral towards silver short term
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