(Washington, D.C. – March 16, 2017) The silver price has started 2017 on a positive tone, rising by roughly 9 percent since the beginning of the year.
The strength of silver prices is largely due to improving sentiment among institutional investors. Changing expectations towards the outlook for U.S. interest rates and the proliferation of negative policy rates across other key reserve currencies has rekindled institutional investor interest in precious metals. Meanwhile, a marked improvement in silver industrial offtake, led by photovoltaics, which achieved a record high last year, is also helping. All these factors in turn have fueled investment inflows into silver futures, options, exchange traded products (ETPs) and over-the-counter products.
Additionally, although expectations about a U.S. Fed rate hike this month saw precious metals face some selling pressure earlier this year, the rate rise announced yesterday and accompanying dovish Fed comments have been met by healthy silver price activity.
gold and silver prices remain steady as dollar comes under pressure...
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