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Silver Market Recap Report
Wed 01 Aug 2012 14:51:00 CT
Related Keywords: Metals
Related Keywords: Metals
September silver prices forged a noted range down extension today, with a low to high trading range of 96 cents an ounce. Like gold, the silver market was undermined by a reduction in US easing fears. Perhaps silver was indirectly dragged lower by sharp losses in gold, platinum, copper and grain prices. While currency market action was negative to silver and other physical commodity markets today, the currency influence didn't appear to be a definitive impact. While the silver market saw an additional downward washout in the wake of the FOMC statement release, silver was able to reject a large portion of the initial downward thrust in prices.
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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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