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Commodities Briefing - Categorized | Bullion/Gold, Investment more

Silver futures plunge 8pct as investors exit precious metals

Posted on 16 April 2013

Silver futures were down sharply on Monday, falling by as much as 8% to hit the lowest level since November 2010 as investors continued to liquidate positions after prices broke below key support levels. On the Comex division of the New York Mercantile Exchange, silver futures for May delivery traded at USD24.37 a troy ounce during European morning trade, down 7.5% on the day.
Comex silver prices fell by as much as 8.5% earlier in the session to hit a daily low of USD24.09 a troy ounce, the weakest level since November 3, 2010. Silver prices were likely to find support at USD23.75 a troy ounce, the low from October 29, 2010 and resistance at USD25.03, the high from November 3, 2010………………………………………..Full Article: Source


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