Silver Price Analysis
Silver soared sharply and finished the week with gains of close to 10%, hitting three-year highs after reaching levels last seen in June 2021. Silver traders ignored an upbeat US jobs report that might delay the Federal Reserve from slashing rates in the June meeting. According to surveys market participants decreased their bets on a quarter-percentage-point rate cut in June, but though July remains in play. Silver followed Gold’s path, though the latter is trading at all-time highs. The Relative Strength Index (RSI) despite being at overbought conditions, aims up, an indication that buyers are gathering momentum. That said, silvers next resistance would be $ the $28.00 psychological mark which if broken opens up room to the key resistance which lies at June 10, 2021, high at $28.28.
Silver Chart
Portfolio Update
Silver had a massive run this week up 9.7% which is reflected in my current assets which are valued at $2,519.22 with a total acquisition cost of $$2,362.33.
Asset Allocation Chart
Asset Holding by Product