Commodity Trade Mantra

Posts Tagged ‘Silver Bullion Demand’

Key Chart Shows Silver at Critical Crossroads

Silver spot prices haven’t been affected yet. However, the weekly silver chart shows an interesting wedge pattern developing. Silver prices briefly touched the bottom of the wedge last week before closing near the top. A solid weekly close above $15.50 would represent a bullish upside breakout, while a decisive break below $14.50 would carry bearish near-term implications.

Major Buyers Continue To Stockpile Silver As U.S. Silver Imports Surge In April

U.S. silver imports surged to 531 metric tons (mt) in April, up from 459 mt in March. Total U.S. silver imports in the first four months of the year are up a stunning 505 metric tons (2,035 mt) compared to the same period last year (1,530 mt). If this trend continues, the U.S. will import over 6,000 mt of silver in 2015.

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