International spot silver continued to fluctuate at a low level on Tuesday and Sunday, with the range of fluctuations around the U.S. dollar. Affected by the Fukushima earthquake in Japan, the price of silver in the Asian market continued to rise, reaching a peak that was almost close to the U.S. dollar. However, as market sentiment quickly subsided, The price of silver began to give back its gains sharply, reaching the lowest level of US$/ounce. However, in the end, the price of silver still stabilized above the US dollar, so the market yesterday basically remained unchanged.
On the other hand, the market is also waiting for the minutes of the Federal Reserve's monetary policy meeting to be released later. According to market expectations, the minutes of this meeting will clarify the idea of raising interest rates next month. At that time, it may be negative for the low silver price, and the silver price may be suppressed again and fall towards the lower dollar mark.
Since the U.S. election, the price of silver has fallen by more than the U.S. dollar from the highs on May 1, while U.S. bond yields have risen sharply for two consecutive weeks, exceeding the year's increase, and the U.S. dollar has also reached a new high. Analysts said that the previous rebound was just short covering rather than a change in fundamentals. With the stock market and the US dollar rising together, the index will continue to bottom out. The market currently expects that the probability of the Federal Reserve raising interest rates at its March meeting has reached. Under such clear pressure to raise interest rates, it will be difficult for silver prices to continue to rise.
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Baishan Weiye official website information-Silver price fluctuates as minutes come