Divergence Occurs In Silver And Silver, Confidence In Silver Is Loose.

Since the Federal Reserve officially announced the end of the QE policy, the price of silver has fallen by 10%, while the price of gold has fallen by 6% over the same period.

Last week, the price of silver fell along with Delagi, who is expected to be relaxed by the European central bank governor, and the US dollar index rose to 88.

However, the US non farm payrolls data released last Friday were not as good as expected. In addition, Fed chairman Yellen's remarks on raising interest rates prompted a sharp rebound in international silver prices from 2.4% to 15.7 dollars / ounce.

Yesterday, Shanghai silver rose with international silver price, closing up 3.15%.

Last Friday's "non farm night" became a turning point in the trend of precious metals market.

Data released that night showed that the United States added 214 thousand non farm workers in October, less than 235 thousand expected by the market.

This is interpreted by the market as the main reason for the rising price of precious metals in the evening, but it should be noted that the US non farm employment figures are not bad. This is the ninth consecutive month that the number of non-agricultural employment has increased by more than 200 thousand, and the unemployment rate has dropped from 5.9% to 5.8%.

More importantly, the labor participation rate in the United States increased by 0.1% to 62.8% in October.

If we combine 230 thousand jobs in the private sector of ADP in October, the US job market is improving.

Such a "non-agricultural night" does not seem to be comparable to the previous figures of "new employment less than 200 thousand people, far less than expected", but precious metal futures prices have risen sharply.

After that, Yellen, chairman of the Federal Reserve, raised the price of silver even further.

In fact, Fed chairman Yellen's remarks did not imply that the interest rate hike was postponed, but that it would convey a more pparent policy direction to the market in the future.

The US non farm payroll data are not bad, the pace of monetary policy adjustment has not changed, and the price of precious metals has risen sharply.

Perhaps, after the crash, the market is divided over the power and magnitude of the continued decline in precious metals prices.

In addition to subtle changes in market mindset, the trend of precious metal prices in the future can be observed from a relatively micro price ratio, which is crucial to the impact of precious metal disk.

The ratio of the S & P 500 index to the CRB index is negatively related to the price of precious metals such as silver, while the ratio of the S & P 500 index to the crude oil price is positively correlated with the US dollar index.

The S & P 500 index can directly reflect the United States.

The ratio of operation to CRB index reflects the impact of commodities on the economic operation. The ratio of crude oil to crude oil reflects the support of energy to economic operation and the US dollar.

If

There is no monetary spillover effect caused by the rise in commodity prices, so the macro hedging effect of precious metals such as silver will drop.

This is also reflected in the price of gold and silver.

Generally speaking, the price of precious metals such as silver is in a downward cycle in the rising cycle of gold and silver prices.

Since the price of silver fell in 2011, the price of gold and silver has surged from 30 to 75, and has reached the high price range.

This is mainly reflected in the process of de financing of commodity assets, but silver reflects more clearly.