Silver -Gloomy global economic outlook, US-China trade spat to support the white metal market

摘要

The global silver market started the month of September on a positive note rallying to 3-year high in the first week of the month. It was a follow-through from previous month as the investors were on buying spree tracking weaker economic data. At the end of August, China had imposed a fresh tariff on $75 billion worth of US imports and in retaliation, the US also imposed an additional 5% tariff on $550 billion worth of Chinese goods. Further, the yield curve inversion between 10-year and 2-year Treasuries was at its deepest since May 2007 when the US subprime financial crisis started to unfold. In the midst of comments from US President regarding possible trade deal, the Trump administration made it official an imposition of additional 5% tariff on $300 billion worth of Chinese goods.