Core Viewpoint - The ongoing trade tensions and domestic political uncertainties in the U.S. are negatively impacting the dollar, leading to a rise in silver prices driven by increased safe-haven demand [1] Market Analysis - The dollar is facing multiple challenges, including doubts about the Federal Reserve's independence and the Trump administration's reinforcement of protectionist trade policies, prompting investors to seek other currencies [3] - Investor sentiment remains fragile due to the stalemate in global trade negotiations, with concerns about rising inflation and economic slowdown in the U.S. stemming from proposed investigations into key mineral imports [3] - The recent imposition of port tariffs on ships from major Asian countries by the White House poses risks to global shipping [3] - Trump's public criticism of Fed Chairman Powell has heightened concerns regarding the independence of the central bank, with Trump demanding immediate interest rate cuts to avoid economic downturn [3] - A significant outflow of $10.07 billion from U.S. bond funds was reported for the week ending April 16, marking the fifth consecutive week of withdrawals, indicating persistent market panic [3] Capital Migration - The current capital migration reflects deep investor concerns regarding Trump's tariff policies, with expectations of rising inflation leading to a delay in the Fed's rate cut plans [4] - As a result, funds are rapidly exiting risk assets in favor of more defensive investment options, suggesting that the market turmoil driven by policy uncertainty may continue to impact the global investment landscape [4] Silver Market Dynamics - Silver prices are closely tied to the global trade environment, and the current severe international trade situation is putting pressure on the silver market [5] - Silver has struggled to break through the high levels established in 2020, with last year's peak only reaching the 61.8% Fibonacci resistance level before facing significant resistance [5] - The technical analysis indicates that silver prices are in a downward channel, approaching a critical support area of the long-term uptrend line, which, if breached, could trigger significant technical breakdowns [5] - Historical trends show that silver has previously entered a downward trend after reaching similar price levels, raising concerns that a continued deterioration in trade conditions could lead to a repeat of this pattern [5]
4月22日白银晚评：美元正在遭遇多重打击 白银或迎来大跌空间
Jin Tou Wang·2025-04-22 08:47