Mid-Session Silver Market Report
Tue 22 May 2012 11:15:01 CT
Related Keywords: Metals
Related Keywords: Metals
The silver market seemed to be able to respect even number support at the $28.00 level in the July silver contract this morning. Like gold, silver seemed to regain its footing into the scheduled US data window but perhaps the impetus for the recovery was the gains in US stocks and a slightly improved attitude toward the Euro zone. It is also possible that slack Richmond Fed manufacturing data was seen as another development could ultimately prompt the US Fed to act. However, existing home sales data coming in stronger than some expectations this morning probably complicates the prospects of easing from the US Fed.
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*Disclaimer: The information in the Market Commentaries was obtained from sources believed to be reliable, but we do not guarantee its accuracy. Neither the information nor any opinion expressed therein constitutes a solicitation of the purchase or sale of any futures or options contracts.
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