At
the end of the previous week, the white metal (similarly to gold) moved
higher after Federal Reserve Chair Nominee Janet Yellen told that
monetary stimulus tools shouldn't be removed too soon.
On Monday, two top Fed officials from opposite sides of the policy spectrum, fueled expectations that the Federal Reserve could taper its bond buying program. Their comments pushed the price of silver to slightly above $20. Although yesterday Bernanke said that the Fed will maintain ultra-easy monetary policy for as long as needed, silver extended declines for a second session and hit a fresh three-month low. This, by itself, is a sign of weakness.
The price of the white metal is down approximately 33% this year, to some extent on concerns the Fed would begin cutting back its easy-money policy by trimming its $85-billion monthly bond purchasing program.
On Monday, two top Fed officials from opposite sides of the policy spectrum, fueled expectations that the Federal Reserve could taper its bond buying program. Their comments pushed the price of silver to slightly above $20. Although yesterday Bernanke said that the Fed will maintain ultra-easy monetary policy for as long as needed, silver extended declines for a second session and hit a fresh three-month low. This, by itself, is a sign of weakness.
The price of the white metal is down approximately 33% this year, to some extent on concerns the Fed would begin cutting back its easy-money policy by trimming its $85-billion monthly bond purchasing program.
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