Silver Markets Give Up Early Gains Today

Silver Price

Silver have initially tried to rally during the session today but gave back gains to form a bit of a shooting star. At this point, it looks like we are starting to run out of steam, so I would anticipate a move back down towards the $22.50 or so.

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Silver Markets Give Up Early Gains Today via @marketinvestor

Silver Price Moves Back Above $22.30

Silver Price

Silver price is currently trying to settle back above the resistance at $22.30 while U.S. dollar is moving higher against a broad basket of currencies. Meanwhile, iShares Silver Trust is trying to settle back above $20.70.

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Silver Price Moves Back Above $22.30 via @marketinvestor

Silver Price Dumps to $22.00 Level Amid Technical Selling

Silver Price

Spot silver price saw a pickup in volatility today, after a bout of technical selling sent it to its lowest level since early October under $22.00. Spot prices had been supported by an uptrend over the course of the last week and when that short-term uptrend was broken on Thursday, selling pressure increased.

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Silver Price Dumps to $22.00 Level Amid Technical Selling via @marketinvestor

Silver Price Analysis: Acceptance Below $24.00 Mark

Silver Price

Silver Price Analysis: Silver witnessed some selling on Friday and dropped to over one-week lows during the early part of the European session. The white metal now seems to have found acceptance below the $24.00 mark and was last seen trading with intraday losses or nearly 0.70%.

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Silver Price Analysis: Acceptance Below $24.00 Mark via @marketinvestor