Listen to the latest market mood for Silver.
The FOMC meet tomorrow and Jerome Powell’s response will be crucial for precious metals gold and silver. According to the investment bank Citi they are expecting the Fed to repeat and reinforce the Fed’s existing dovishness.
Citi expect no changes to policy and a repeat of the Fed’s last message. A dovish surprise would be any mention of extra stimulus. A hawkish risk would be any mention of tapering bond purchases this year.
If the Fed remains dovish this should support silver buyers.
Trade Risks: The main risk to this trade is from a hawkish twist out of the FOMC with Jerome Powell talking about tapering bonds.