Silver prices fall to lowest since 2015 as Chinese stocks struggle to recover

Silver prices have slumped to their lowest level since 2015.

The lowest level in more than three years, it marks the first time in more to three decades that silver has declined for two consecutive months.

The slide was driven by strong economic growth in China, where the yuan is now valued at about 70 per cent of the dollar.

It comes after China’s central bank cut interest rates to an unprecedented 7.5 per cent, which many economists have attributed to the global economic slowdown.

The sharp selloff comes as a series of economic data in recent weeks has shown slowing economic growth, falling wages, rising inflation and rising debt levels.

“Silver has been losing its luster over the past year or so, so it is no surprise that silver prices have dropped off,” said Ian Narev, chief investment officer at First Marble.

“The reason for the sharp drop is the central bank’s rate cut.

That will continue to keep the market at its current low levels.”

The drop is likely to make silver an even more expensive asset, according to Mr. Narev.

“If you look at the market, silver is a lot more expensive than gold,” he said.

The central bank has been warning of the risks posed by the slowing Chinese economy and high levels of debt levels, and has also warned that the currency devaluation could further erode China’s competitiveness.

Investors, however, are likely to resist any tightening of monetary policy as the yuan strengthens.

“This is a good sign for silver because it reflects China’s slowing economic performance,” said John McKeon, an analyst at IG.

“China has been the biggest loser, and the U.S. and Europe are going to be big losers.

Silver is a great investment, but it’s not as attractive as gold.”

Investors have also been watching for signs that the Chinese economy will pick up after the recent devaluation.

“As long as the U, Europe, Japan and others continue to follow the Fed’s lead, gold is likely just a memory and the economy will continue its decline,” said Mr. McKeons partner, James Kuchar.

The U.K. is also seeing signs of a recovery in the economy after the country’s financial sector reported a 7.4 per cent jump in third-quarter profits.

“It’s a big lift for the U: it’s a positive number,” Mr. Kucharov said.

“For gold, it’s probably just a temporary boost and the recovery won’t last long.”

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