Today’s election in the US brings uncertainty to the metals markets

US elections affect metal marketIt may not be entirely obviously but today’s election in the US also brings uncertainty to the metals markets. In the last 6 days, silver prices climbed over 6% and remained somewhat steady today, just above $18. Silver prices are expected to be higher if Donald Trump will be elected (around $24) as opposed to Hillary Clinton ($22). It seems that regardless of who is going to win the presidential race silver prices are expected to climb. ETF Securities forecast that silver prices are expected to trade between $22 and $24 next year as a result of the focus of International Energy Agency on renewable energy. Silver is used in the production of solar panels and the demand for this metal is expected to rise with this shift towards green energy.

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