While the new measures taken regarding the Covid-19 outbreak in global markets weakened the risk appetite in the markets, eyes were turned to the second round of Senate elections to be held in Georgia today. Especially if the Democrats win the Georgia state elections, the seats of Democrats and Republicans in the Senate will be equalized, and this will provide a great convenience for Biden, who is the leader of the Democrats and elected president, to implement his policies. While this possibility also means more fiscal policy, it also means more taxes. The continuation of this uncertainty triggered demand especially for safe-havens, causing silver prices to start the new week with a very sudden upward movement. Thus, while Ounce Silver prices settle above the level of 27.0, it is seen that attacks towards the level of 6.50 are more frequent in Gram Silver prices.

Although the manufacturing PMI data announced in the USA yesterday showed that economic activity was expanding, the concerns created by the increase in the number of Kovid-19 cases were more effective on market pricing. On the other hand, while the dollar index saw the lowest level since April 2018 with 89.4, it is seen that the US 10-year bond yields remained somewhat weak in the downward trend with 0.93 percent. It is seen that the demand for safe ports, which has decreased in the markets with vaccine developments, is turning up again with the high number of cases in the new year.



In the technical view of the Ounce Silver prices, the effort to exceed the 27.50 level is noteworthy, while the buying potential may continue until the resistance levels of 28.16 and 29.0 with the commodity closing above this level. However, we follow the continuation of the decreases, primarily within the framework of the support of 26.75, in the return of the commodities from 27.50. Below this level, support levels 26.0 and 24.90 will be important active areas.