Silver Price: Push and Pull

Silver Investing News reports silver price having effects from Mexico and China.

On Friday, China finally admitted to what many have speculated for some time. The Asian nation has been secretly building its gold reserves by 76 per cent since 2003 to 1,054 tonnes.  “Investors expect China will buy more,” said Dick Poon, manager of the precious metals trading desk at Heraeus Ltd.  ”The markets are still feeling very positive about this news.”  The news is influencing the price of both precious metals as silver often moves in tandem with the gold price.

New reports of swine flu cases spreading beyond Mexico have led to fears that a pandemic may be in the works. This fear is having a psychological impact on the markets, the precious metals included. It could also have a real impact on supply as Mexican silver exports may be affected. Of course, these events only influence the silver market in the short-term.

For complete story, click this link. Follow developments in resource mining and exploration for free. Sign on to The Resource Stock Watch.