Although the price of silver is on the rise, the silver market remains vulnerable to the macroeconomic news and trends of the world. Although the general trends of silver and economics are important, extra importance and stress, as of late, has been placed on the economy of China. The country is expected to release key data later this week, which could very well determine the financial and investing path of the precious metal.
Although silver opened last week displaying hints of weakness, the metal eventually traded at the highest level it’s been traded at since the beginning of April. Much of this trend was blamed on the spillover of gold, which opened the week at exceedingly high levels, mostly due to the ending of the protests in India as well as other key contributing factors. The rise and fall of silver as an investment is related to how popular other precious metals, like copper and platinum, are on the market. For example, if copper and platinum rise in popularity, silver does as well. And vice versa. China’s GDP is set to be released later this week. If the GDP of China disappoints, coming in below 8.5 percent, the price of silver will experience a set-back.
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