Silver jumps above $17 again on risk-aversion

2019-08-14 13:21:57 GMT (Economies.com)
Silver jumps above $17 again on risk-aversion

Silver rose in the European market today above the $17 mark, heading for a 19-month high, which was posted in yesterday's trading, on investors' risk-aversion and increased demand on safe havens.

 

As of 11:44 GMT, silver rose by 1.3% to $17.16 an ounce, from the opening of $16.94, with a high of $17.18, and a low of $16.86.

 

Silver shed 0.6% yesterday, on profit taking from a 19-month high of $17.50 an ounce.

 

In addition to the profit-taking phase silver fell  after the US announcement delaying the 10% tariffs increase on $300 billion worth on Chinese imports.

 

Markets sentiment rose after the announcement, as most global stocks and bonds markets rebounded.

 

But this high sentiment dropped sharply today, after weak Chinese data today, which have renewed the slowdown fears over the Chinese economy and increased demand of safe havens.

 

China released its reading for the industrial production y/y reading, which rose by 4.8% vs. 6.3%, the slowest pace in more than 17 years, in addition to a slowdown in retail sales in the same period, while the German economy showed a contraction during the second quarter of this year, as well as the European economy slowing during the 2nd quarter.

 
 
 
  Symbol Last Change Chg.%
1.1133
0.0071
0.6450%
1.3200
0.0063
0.4773%
Tadawul
8133.72
67.30
0.83%
16.860
0.288
1.738%
58.796
-0.314
0.531%
63.72
-0.62
0.96%
1474.830
14.985
1.026%
 
 
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