Large profit for Silver metal since 2008 !

Silver prices reached good levels two days ago for the third session in a row, achieving their highest rise in four weeks with the increase in demand for the white metal and the rise of most commodities and metals.

This rising profit for silver has various factors and reasons as it can be due to the possibility of a collapse in the US Treasury yields with also the possibility of an expected rise in the actual demand for the metal in the coming months.

Silver prices on Tuesday hit $21.04 an ounce, the highest gain of 1.8% since June, after rising 9% early this week, the second straight gain and the biggest in 14 years since September 2008.

The 10-year US Treasury yield decrease more than 2% today for the second consecutive session, hitting its weakest level in two weeks at 3.5% and supporting non-yielding assets such as silver. The US ISM Manufacturing PMI also declined which will affect the health of the economy for the rest of this year.

It is possible that we will witness a massive actual demand for gold and silver in the subsequent months as the Indian government imposed a significant increase in import taxes on platinum from 10% to more than 15% in order to balance the import taxes between platinum and other metals because India is the second largest international beneficiary of gold and silver.