Silver prices are following gold’s lead today, up slightly on news out of the EU and Asia. Growth concerns there are giving rise to the likelihood of further easing policies out of the Fed.
The metal is also trying to avoid its 4th straight quarterly loss. Hampering the prices are the new import taxes instituted in India. This is stifling global demand and could keep silver prices in their current range. Short-term traders would probably be better off waiting for a clearer indication on QE3’s start (if it does) while long-term seem to be content to wait for the breakout due to their own economic thesis regarding fiat currencies. [Read more...]