Is the price at the end of the cycle?
This seems to me one of the sharp decline since the beginning of this month.
Economic Data published yesterday was Building Permits which came modestly higher than the forecast, but not higher than the previous one.
Could this be an indication that it's a start of the strengthening of economy?
Building Permits would also imply that once the houses are built, then comes the rise in the purchases of home appliances and durables, electronics that goes in the house.
This could mean that the signs of economic recovery is strengthening and we might start to see Silver falling back unless job data does not support the strength of the economy.
If we look at the below chart, it will show inverse relationship of Buiding Permits with Silver price.
When Buiding permit peaked in the month of March and later in October, we saw a sharp decline in the price.
Today Initial jobless claims and Jobless 4 week average data will be published.
This might decide the future course of the Silver.
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