Silver has been the best performing precious metal in the world this year, but the market ended lower last week after posting gains for the preceding four weeks.
Some of the strong fundamental reasons for aggressive silver purchases were tarnished over the past week with the US Federal Reserve’s pledge to keep rates low for a considerable time being reassessed as strong signs of growth from the US economy in last Friday’s Jobs data highlights the appetite of US firms to rebuild inventories and look to expand their businesses.
However while the dollar did recover slightly, silver losses were limited. The white metal was able to hold on to most of the week’s gains, but still registered a 1.6% loss Friday. A correction would likely drag March futures back near $31 an ounce.
The market remains in a strong positive strength from December.
