iShares Silver Trust: Weaker SLV Prices And Related Forecast Changes

After a three day losing streak earlier this week, SLV closed the week in style recording a gain of $0.17. The Priceof SLV was $31.12 at the beginning of the week but the huge losses recorded on Wednesday saw the price drop by $0.34 to $30.78. Hence, silver managed to keep its head beyond $31 an ounce.

Part of the weakness in the SLV market was expected because of the Lunar New Year Holiday whose festivities stretched a week long. But investors and expert analysts can’t agree on the aftermath in the SLV Quote because of this weekend’s G20 meeting. A currency war in the countries involved is expected after this meeting.

Experts from iShares SLV Trust said that both gold and silver tend to remain in a partially safe haven bias of liquidation, thus it would take revitalized Eurozone turmoil and softly scheduled data or unimaginable declines in equities to give the investors a fresh trading interest.

Funnily enough, as the prices of both GLD and SLV weaken, most bullish investors still insist that both metals will hit highs of $50 and $1,900 respectively.

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 Live 24 hours silver chart [ Kitco Inc. ]