Mid-Session Silver Market Report
Thu 24 May 2012 11:09:00 CT
Related Keywords: Metals
Related Keywords: Metals
Like gold, silver prices managed an early range up move and the market managed that action in the face of patently discouraging international data released overnight. While some silver bulls credited the hope for international easing for the rise in silver prices this morning, the July silver contact actually managed to add to the upward pulse through the US scheduled data window. With the US stats better than expected and silver prices still maintaining a positive track, the easing argument would seem to carry a little less weight. From the low just ahead of the US data, July silver eventually managed a rally of 53 cents an ounce and that had to embolden the bull camp considering the conflicted data flows of the last 12 hours.
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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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