• Gold: 1,582.99 0.24
  • Silver: 17.71 -0.02
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Julian Phillips: Silver Price Falls with Euro; in hands of traders

Julian D.W. Phillips
Wednesday, May 23rd

SilverSeek.com Comment Wire 

The fall in the silver price to current levels of $27.34 reflects the fall in the euro and not that rise of the dollar. Both gold and silver have for so long been treated as "counters to the dollar" to quote the Bundesbank's ex-President Herr Weber. But this does not mean, after market volatility says differently, that silver should move with the euro.

In the SilverForecaster, we will be issuing an article asking the question will silver fall all the way down with the euro? We will also be commenting more fully in the newsletter from these sites too.

The price of silver is currently in the hands of traders pushing the day to day prices as rising fear, in Europe, appears to be headed to a panic. Such panics usually produce dramatic action, which we will see culminate in the Greek elections in a months time, if not sooner.

What we now expect is tremendous volatility going forward. We will update these comments as the situation develops!

Kind regards,

Julian D.W. Phillips




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