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Silver gains on hope of central bank intervention

Silver was mostly unchanged in early morning trading on Thursday, but the losses of the past few sessions have taken much of the gloss off an otherwise good month. 

Aside from the most recent sessions, August has seen the white metal make impressive gains, up 11% as markets around the world edge up in quiet trading on hopes of central bank intervention. Mario Draghi’s comments about doing ‘whatever it takes’ to save the euro and expectations that Ben Bernanke might once again use his Jackson Hole speech to make broad hints about additional stimulus were sufficient to tempt investors out from their shelters. 

If Mr Bernanke does hint at stimulus (which is not a clear certainty), then we might see silver, and its more sedate cousin gold, edge up further as the US dollar weakens and investors’ risk appetite increases, but much of the gains have been built on the hope of action and any disappointment will likely lead silver to edge lower once again.
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Silver gains on hope of central bank intervention

Silver was mostly unchanged in early morning trading on Thursday, but the losses of the past few sessions have taken much of the gloss off an otherwise good month. 

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