Spot silver maintained a stable upward trend in the Asian market on Thursday (June 2). The overnight silver price once hit the US dollar under the influence of small non-agricultural sectors. The Federal Reserve's interest rate decision in the early morning of this morning remained unchanged, which increased expectations for an interest rate increase at the end of the year. After briefly falling back against the US dollar, the price of silver started to rise again after the opening of trading today. However, as the price of silver once again climbed above the US dollar, something unexpected happened to everyone. The price of silver suddenly broke out of a continuous plunge. The price of silver plummeted from .USD to .USD. At one point, it was as low as .USD. This time, everyone was stunned.
Silver prices unexpectedly plunge Why did silver prices suddenly plummet?
Silver price plummets
Why did silver suddenly come out of the plunge? The editor of First Silver Network made the following guesses
.Profit-taking triggered by the Federal Reserve’s interest rate decision
Silver price unexpectedly plunged Why did the silver price suddenly plummet?
Silver price plummets
We can see from the daily chart that including last Friday, the silver price has recorded four consecutive positive trends, especially Tuesday’s surge that finally recorded a big positive line. , and an inverted hammer line was recorded on Wednesday, which shows that the silver price was suppressed and fell after rising high, and the long upper shadow line indicates strong pressure and a bearish market outlook. It has already foreshadowed today's possible decline.
We have analyzed before that after the silver price broke through the US dollar, it can be regarded as officially starting a rebound and rising market. Originally, under the influence of D's poor performance, the market basically did not have high hopes for the performance of non-agricultural sectors. However, The Federal Reserve's interest rate decision has greatly increased expectations for interest rate hikes, suppressing this wave of positive factors. This made the market worried that it would not be able to go long, so the market took a large number of positions when the silver price rebounded to ., causing the silver price to plummet.
.Depress the silver price and use non-farm payrolls to go long
The possibility of this situation is low, also because the D data performs poorly, so if Friday’s non-agricultural data is like the D data, then the silver price is bound to rise There has been a strong surge, but the silver price has now exceeded the US dollar, and coupled with the negative impact of rising interest rate expectations, even if the non-agricultural data is positive, it may be difficult for the silver price to break through the US dollar, or even only increase by around the US dollar. . And if a large amount of short selling is done first, the price of silver will be lowered from the current high to an expected low, for example... nearby. Then if non-agricultural stocks are negative and you enter the market again, you can make a lot of profits.
Generally speaking, the former of the above two situations is more likely. However, overall, the silver trend in this month is still on an upward trend. Before the monthly interest rate hike, the silver price may stand on the US dollar. After all, the market sentiment brought about by the U.S. election last month will have a more positive effect on silver prices in the short term than the impact of the interest rate hike last month. The US election will become another important black swan event this year.
Spot silver maintained a stable upward trend in Asia on Thursday (June 2). The overnight silver price once hit the U.S. dollar under the influence of small non-agricultural sectors. The Federal Reserve’s interest rate decision in the early morning of this morning remained unchanged, which caused the year-end increase. Interest rate expectations rose, and after briefly falling back against the US dollar, silver prices started rising again after today's opening. However, as the silver price once again climbed above the US dollar, something unexpected happened to everyone. The price of silver suddenly broke out of a continuous plunge. The price of silver plummeted from .USD to .USD. At one point, it was as low as .USD. This time, everyone was stunned.
Silver prices unexpectedly plunge Why did silver prices suddenly plummet?
Silver price plummets
Why did silver suddenly come out of the plunge? The editor of First Silver Network made the following guesses
.Profit-taking triggered by the Federal Reserve’s interest rate decision
Silver price unexpectedly plunged Why did the silver price suddenly plummet?
Silver price plummets
We can see from the daily chart that including last Friday, the silver price has recorded four consecutive positive trends, especially Tuesday’s surge that finally recorded a big positive line. , and an inverted hammer line was recorded on Wednesday, which shows that the silver price was suppressed and fell after rising high, and the long upper shadow line indicates strong pressure and a bearish market outlook. It has already foreshadowed today's possible decline.
We have analyzed before that after the silver price broke through the US dollar, it can be regarded as officially starting a rebound and rising market. Originally, under the influence of D's poor performance, the market basically did not have high hopes for the performance of non-agricultural sectors. However, The Federal Reserve's interest rate decision has greatly increased expectations for interest rate hikes, suppressing this wave of positive factors. This made the market worried that it would not be able to go long, so the market took a large number of positions when the silver price rebounded to ., causing the silver price to plummet.
.Depress the silver price and use non-farm payrolls to go long
The possibility of this situation is low, also because the D data performs poorly, so if Friday’s non-agricultural data is like the D data, then the silver price is bound to rise There has been a strong surge, but the silver price has now exceeded the US dollar, and coupled with the negative impact of rising interest rate expectations, even if the non-agricultural data is positive, it may be difficult for the silver price to break through the US dollar, or even only increase by around the US dollar. . And if a large amount of short selling is done first, the price of silver will be lowered from the current high to an expected low, for example... nearby. Then if non-agricultural stocks are negative and you enter the market again, you can make a lot of profits.
Generally speaking, the former of the above two situations is more likely. However, overall, the silver trend in this month is still on an upward trend. Before the monthly interest rate hike, the silver price may stand on the US dollar. After all, the market sentiment brought about by the U.S. election last month will have a more positive effect on silver prices in the short term than the impact of the interest rate hike last month. The US election will become another important black swan event this year.
Spot silver maintained a stable upward trend in Asia on Thursday (June 2). The overnight silver price once hit the U.S. dollar under the influence of small non-agricultural sectors. The Federal Reserve’s interest rate decision in the early morning of this morning remained unchanged, which caused the year-end increase. Interest rate expectations rose, and after briefly falling back against the US dollar, silver prices started rising again after today's opening. However, as the silver price once again climbed above the US dollar, something unexpected happened to everyone. The price of silver suddenly broke out of a continuous plunge. The price of silver plummeted from .USD to .USD. At one point, it was as low as .USD. This time, everyone was stunned.
Silver prices unexpectedly plunge Why did silver prices suddenly plummet?
Silver price plummets
Why did silver suddenly come out of the plunge? The editor of First Silver Network made the following guesses
.Profit-taking triggered by the Federal Reserve’s interest rate decision
Silver price unexpectedly plunged Why did the silver price suddenly plummet?
Silver price plummets
We can see from the daily chart that including last Friday, the silver price has recorded four consecutive positive trends, especially Tuesday’s surge that finally recorded a big positive line. , and an inverted hammer line was recorded on Wednesday, which shows that the silver price was suppressed and fell after rising high, and the long upper shadow line indicates strong pressure and a bearish market outlook. It has already foreshadowed today's possible decline.
We have analyzed before that after the silver price broke through the US dollar, it can be regarded as officially starting a rebound and rising market. Originally, under the influence of D's poor performance, the market basically did not have high hopes for the performance of non-agricultural sectors. However, The Federal Reserve's interest rate decision has greatly increased expectations for interest rate hikes, suppressing this wave of positive factors. This made the market worried that it would not be able to go long, so the market took a large number of positions when the silver price rebounded to ., causing the silver price to plummet.
.Depress the silver price and use non-farm payrolls to go long
The possibility of this situation is low, also because the D data performs poorly, so if Friday’s non-agricultural data is like the D data, then the silver price is bound to rise There has been a strong surge, but the silver price has now exceeded the US dollar, and coupled with the negative impact of rising interest rate expectations, even if the non-agricultural data is positive, it may be difficult for the silver price to break through the US dollar, or even only increase by around the US dollar. . And if a large amount of short selling is done first, the price of silver will be lowered from the current high to an expected low, for example... nearby. Then if non-agricultural stocks are negative and you enter the market again, you can make a lot of profits.
Generally speaking, the former of the above two situations is more likely. However, overall, the silver trend in this month is still on an upward trend. Before the monthly interest rate hike, the silver price may stand on the US dollar. After all, the market sentiment brought about by the U.S. election last month will have a more positive effect on silver prices in the short term than the impact of the interest rate hike last month. The US election will become another important black swan event this year.
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