Silver Market Recap Report
Fri 08 Mar 2013 16:36:00 CT
Related Keywords: Metals
Clearly the silver market took the overnight deterioration in global macro economic conditions significantly harder than the gold market as the May silver contract at times today was as much as $1.19 below last Friday's US close. A deterioration in physical commodity demand views combined with negative Chinese silver import data for a patently negative short term view toward silver prices. It goes without saying that silver was also undermined in the wake of the hard down action in US equities and seeing adverse currency market action also seemed to be pushing some silver longs to the sidelines. Like gold, the shorts might not be inclined to cover their positions until the FOMC statement is closer at hand.

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