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On June 11th, iCapital analyst Guillermo Santos Aramburo stated in a report that the European Central Banks expected 25 basis point rate hike on Thursday is more of a symbolic move than a substantive one, aimed at maintaining its credibility in combating inflation. The partner stated, "Unless the market interprets it as the beginning of a series of rate hikes (and potentially larger ones), this hike will have limited impact on the market, but such an interpretation is unlikely." He pointed out that in this context, floating-rate fixed-income investments will benefit from these rate hikes.German Defense Minister: If Europe has a gap in deep strike capability, we will try to fill it.A senior NATO military official said: “What we see in Ukraine and the Middle East is that everything hinges on data—whoever controls the data can use the means of warfare more effectively.”Chow Tai Fook (01929.HK): The companys retail sales increased by 14.7% year-on-year from April 1 to May 31.June 11th Futures News: The following are the warehouse receipts and changes for various commodities traded on the Shanghai Futures Exchange: 1. International copper futures warehouse receipts: 13,133 tons, unchanged from the previous trading day; 2. Alumina futures warehouse receipts: 413,053 tons, a decrease of 2,994 tons from the previous trading day; 3. Aluminum futures warehouse receipts: 487,290 tons, a decrease of 1,197 tons from the previous trading day; 4. Copper futures warehouse receipts: 97,391 tons, an increase of 1,304 tons from the previous trading day; 5. Rebar warehouse futures warehouse receipts: 35,153 tons, unchanged from the previous trading day; 6. Stainless steel warehouse futures warehouse receipts: 93,479 tons, an increase of 144 tons from the previous trading day; 7. Fuel oil futures warehouse receipts: 31,160 tons, a decrease of 3,000 tons from the previous trading day; 8. Nickel futures warehouse receipts: 93,100 tons, an increase of 1,968 tons from the previous trading day; 9. Silver futures warehouse receipts: 895,265 kg, down 21,115 kg from the previous trading day; 10. Petroleum asphalt plant warehouse futures warehouse receipts: 96,220 tons, unchanged from the previous trading day; 11. Petroleum asphalt warehouse futures warehouse receipts: 21,120 tons, unchanged from the previous trading day; 12. TSR20 rubber futures warehouse receipts: 27,721 tons, unchanged from the previous trading day; 13. Natural rubber futures warehouse receipts: 150,830 tons, unchanged from the previous trading day; 14. Hot-rolled coil futures warehouse receipts: 424,497 tons, down 5,366 tons from the previous trading day; 15. Pulp warehouse futures warehouse receipts: 235,809 tons, unchanged from the previous trading day; 16. Pulp mill warehouse futures warehouse receipts: 20,000 tons, unchanged from the previous trading day; 17. Lead futures warehouse receipts totaled 58,612 tons, an increase of 399 tons from the previous trading day; 18. Low-sulfur fuel oil warehouse receipts were 0 tons, unchanged from the previous trading day; 19. Medium-sulfur crude oil futures warehouse receipts totaled 2,961,000 barrels, unchanged from the previous trading day; 20. Butadiene rubber futures warehouse receipts totaled 28,510 tons, a decrease of 210 tons from the previous trading day; 21. Tin futures warehouse receipts totaled 10,128 tons, a decrease of 536 tons from the previous trading day; 22. Zinc futures warehouse receipts totaled 117,058 tons, an increase of 4,379 tons from the previous trading day; 23. Gold futures warehouse receipts totaled 111,663 kilograms, unchanged from the previous trading day.

Predictions for the Silver Market: A Turbulent Time Ahead

Alina Haynes

Jul 22, 2022 14:58

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Silver fell during Thursday's trading session, but it recovered after the European Central Bank raised interest rates, which placed downward pressure on the US dollar. I believe it is only a matter of time until sellers re-enter the market and force this commodity lower since this is a market that continues to witness a lot of noisy activity. However, there are many grounds to believe that silver's value will decline below that of the dollar.

 

Silver's demand is expected to remain weak due to low consumer demand. At this point, I believe it is best to "fade the rise," since it will likely be just a matter of time until sellers re-enter the market. We're probably going to break up soon, and the $20 level above should provide a lot of resistance on the way up.

 

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It's conceivable that sellers will enter the market even if we break over the $20 level, and then the 50 Day EMA will come into play. The 50-day moving average (MA) is currently at $20.73, and it's falling. In the end, I believe that many individuals will rush into this market as soon as it shows indications of tiredness. If the price drops below the hammer's base, it would be reasonable to assume that the $15 support level will be quickly breached.


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