“The 50-day moving average is also nestled close to $17, providing further significance to that level. But perhaps we’re getting ahead of ourselves. After all, the last upswing in SLV was accompanied by some insane momentum, not to mention heavy, heavy volume. As such, the current pullback may remain shallow if anxious buyers rush in,” adds InvestorPlace.
As growth improves and inflation rises, we are back to waiting for an eventual Federal Reserve interest rate hike, which may trigger market fears over policy mistakes and potential pressure growth.
Related: Attractive Fundamentals Could Further Support Precious Metals ETFs
For the precious metals market, traders will have to keep close tabs on the Fed as gold has been closely correlated to real interest rates. Investors have seen gold outperform in negative interest rate periods.
iShares Silver Trust
