February 12th Silver Market Update

Precious metals are not doing all that much moving as of the writing of this post on Thursday mostly thanks to the fact that it is a risk-on day across the globe. The focus of the market, as it has been all week, is once again on Europe as there are quite a few developments currently unfolding.

As of now, the market is focusing on talks surrounding the Ukrainian civil war as well as Greece’s refusal to cooperate with bailout plans. There really hasn’t been much in the way of economic data released this week, but investors are still having plenty to focus on. Most important for US investors is the release of the weekly jobless claims report. This is the case simply because the US employment situation is one of the biggest factors affecting the hiking of interest rates.

Ukrainian Ceasefire Agreement Reached

For the past year or more, the world has been focusing on Ukraine and the ongoing civil war there. With pro-Russian rebels and Ukrainian armed forces still fighting, the civil war has left the headlines but has still been raging. Despite attempt after attempt, ceasefire agreements have thus far fallen through. This time, however, talks between Ukrainian officials, Russian officials, and officials from Western nations went well as now it is being reported that a ceasefire agreement was reached. The agreement, which will go into effect on Sunday, is a massive step forward for a situation that seemed to be stagnating for the better part of the past half year or more.

Even with this ceasefire agreement, experts agree that there is much more needed to be done in order to officially put an end to fighting in Ukraine.

In other news from Europe, this week has seen the market focus a lot on Greece and their new government’s refusal to agree with previously agreed upon EU bailout measures. Things such as austerity measures and debt reduction measures are currently being abandoned by Greece, and this is being looked upon with no favor by Germany and the rest of the EU.

If Greece continues to not cooperate, they run the risk of losing any further financial assistance from the European Union. What’s more, Greece is seriously running the risk of ousting themselves from the EU in general; something that may prompt other EU nations to do the same. As we look ahead to the last day of the week, I imagine that the focus of investors will continue to be on the many issues plaguing the EU.

Posted in News

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