Market analysts note the growth of long speculative positions for silver and gold futures

Analysts note an increase in the volume of long speculative positions in silver and gold futures. At the same time, short positions are being reduced. In other words, investors believe in further growth of precious metals. Previously, such a situation on the market suggested that speculators were awaiting economic recovery. Nevertheless, now we can talk about a short-term trend reversal. Meaning, positions can change depending on the policy of the foreign exchange market and the Federal Reserve.

Oksana Lukicheva, an analyst in commodity markets at Otkritie FC Bank, assured that the decrease in the Fed's hike at the December meeting weakened the dollar. Therefore, it pushed the prices of gold and silver higher, since these precious metals are considered to be assets that can benefit from an economic slowdown.

In other words, the fact that specialists expect gold and silver prices to rise does not mean that speculators consider the economic outlook to be beneficial. According to experts, it is rather connected with hedging risks.