Weekly Silver Review: COMEX Futures Fall Near $22 On Global Growth Worries

7 May 2022 , 02:21 PM

COMEX Silver futures continued to stay under stress amid a massive dose of selling in Copper and global equities. The metal tanked to a three month low of $22.10 per pound as global growth is projected to slow from an estimated 6.1 percent in 2021 to 3.6 percent in 2022 and 2023. This is 0.8 and 0.2 percentage points lower for 2022 and 2023 than projected in January by the IMF. Beyond 2023, global growth is forecast to decline to about 3.3 percent over the medium term. War-induced commodity price increases and broadening price pressures have led to 2022 inflation projections of 5.7 percent in advanced economies and 8.7 percent in emerging market and developing economies?1.8 and 2.8 percentage points higher than projected last January. Powered by Commodity Insights