Monday opened with live silver prices at $17.06 and closed a cent off from this number at $17.05. Trading after the close caused the price of silver to open at $16.65 on Tuesday; once again, it closed a cent down at $16.64. Aftermarket activity brought a Wednesday opening of $16.82, and the buying continued throughout the day until the close of $17.12. The price of silver was $17.13 on Thursday morning before light selling sent it to $17.06 at the close. Silver saw continued market strength on Friday morning, opening at $17.11, but a dip in trading brought a close of $16.97.
The markets have focused on North Korea’s intransigence over the past two weeks. 1 Terrorist attacks in Barcelona, Spain last Thursday added to the safe haven buying trend. 2 While the U.S. dollar showed some strength, the impact on traders was countered by the stock market’s poor performance. Overall, market signals for silver buying have been favorable.
Analysts will be watching the Federal Reserve’s Jackson Hole symposium this week, Thursday through Saturday. This meeting will have a number of global bankers and finance officers gathering to discuss monetary policy and economic issues. U.S. Fed Chair Janet Yellen is scheduled to speak Friday morning, and this symposium has been used in the past to signal shifts in policy. European Central Bank President Mario Draghi will also address the group on Friday afternoon.