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related
metals:
Silver
Futures Trading Update
Acting like gold,
as an inflationary hedge, and the with prospect
of the descending dollar, and the question of Iran and the Middle
East moving in and out of sights – but
given demand within the industrial sector, for use
in products and jewelry - silver rises early in the year and retains
much of its earlier months
percentage gains in early August when dipping. Retaining
greater percentages gains than of gold.
Although the economic picture including energy costs remain undetermined at large.
Given soaring gold prices, more silver used in retail
jewelry could replace gold in the jewelry market depending
on its behavior.
 Big
picture: Silver highlights
The month of March, 2008 trading
cycles saw silver futures crest $21.00, before retreating
in following months until July 2008, when silver contracts tipped a high of
$19.00 and easing.
Though by early August 2008, silver futures down at $14.535 on COMEX
, a six month low and moving
like gold against crude oil futures.
By September 3, 2008 Silver futures have fallen
at a greater percentage than for gold over the
course of the year.
December 2008 For
years end silver closed at $11.32 amounting to
a 25% decrease over the prior year. .
January 2009 Silver rises over December's months end to close at $12.62
During the third week of February 2009, silver goes above the $14 mark which
represents
a break above the resistance level to many.
During the first week of
April, May silver futures showed a slight gain as did Gold with spot prices showing
a decline. Due to the worldwide ecnonomic prospects and world leaders acting
in concert to solve the looming crisis.
May 13th, 2009 - silver trades at slightly reduced prices
due to reports of a mild slackening industrial demand for
the metal.
July 6th, 2009 Like its counterpart, the metal trades lower
amid a stronger dollar and falling crude prices
By August, 2009 silver continues to outperform gold for
2009. Gains reaching 14.90/ounce by the 31st followed a
sell-off earlier in the month.
September 21, 2009 - Silver edges over $17/ounce.
October 27, 2009 Silver Futures for December delivery slips to $16.54 ounce,
trailing gold, possibly loosing more given its use in manufacturing and the prevailing
economic
outlook.
Silver continues to gain for the month of November with
support in the $18 range.
Trading is moderate
around
the last weekend of December, as the year begins
to wind to a close.
By January 22nd, like gold, silver drops in large part due to the China news
of a 10+ % growth of GDP raising the possibility of an interest rate hike.
February 22, 2010 - silver gains appeals as China's
recent sale of U.S Treasuries may indicate a shift toward
acquiring more of the precious metal.
March 23 - May delivery
prices tip downward with signals of a stonger dollar,
following suit with gold.
April 9, 2010, Silver went to $18.35 per ounce for May
delivery on COMEX, reacting to problematic Greek debt.
May17,
2010 silver gains a total 4.2% for the year which
is triple that seen by gold on the COMEX. Cited is metals
industrial value.
June 8, 2010 Silver increases along with gold before tapering, reaching
to around $18.47 for July delivery with the rise in both metals attributable
to a search for a safe haven.
July 7, 2010 Rises to over the $18.00 mark. While earlier in the
week on the 3rd, President Obama announced the government backed
plan for $2 billion in loans going to solar
panel
projects that
utilitize silver, as the panels seem to gain some momentum.
Last
update - Wednesday, July 8, 2010
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