By FXEmpire.com
The silver markets had a very quiet session on Wednesday as the trading community sits patiently and waits for the results of the European Union meetings over the next two days. The silver markets are going to be influenced by not only the risk appetite, but the industrial demand as well. It is highly likely that the summit will produce very little in terms of substance. Because of this, it’s difficult to see the “risk on” trade coming back into vogue. With this being said, it looks like we will continue to grind sideways in the meantime. If the dollar does start to appreciate rapidly, this will be a catalyst for silver to lose value rapidly as well. Quite frankly, the next move in this market is probably going to be a reaction to that summit. With this being said, it is very difficult to take on a position at this moment in time.
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Originally posted here
