Silver Prices Surge as Precious Metals Extends Rally
- Buz Investors Silver Prices Surge The precious metal is trading at $18.75 per ounce at 10:40 GMT this morning, 1.46% higher from the New York close.
- During the session, silver traded at a high of $18.99 per ounce and a low of $18.38 per ounce. In the New York session yesterday, silver fell 1.52% and closed at $18.48 per ounce, tracking losses in gold prices.
- Silver has its first support at $18.39 per ounce and its first resistance at $19.04 per ounce.
Silver Prices Surge
Silver Prices Surge Silver prices surged on Thursday, as protesters took to the streets of major US cities to protest Donald Trump’s election victory.
December silver futures surged 35 cents, or 1.9%, to $18.73 a troy ounce at 7:20 am ET. The grey metal reached an intraday high of $18.99, which would have been the highest settlement since late September.
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Republican candidate Donald Trump secured 279 electoral college votes on Tuesday to become the 45th President of the United States. The news initially sent global markets ablaze before Trump’s victory speech eased investors’ concerns. However, the outlook on the global financial markets will remain uncertain until the President-Elect provides tangible guidance on economic policies. Uncertainty will likely keep precious metals elevated over the short-term.
On Wednesday, protesters poured onto the streets of major US cities to demonstrate against Trump’s election, with many shouting “Not my president.” Others burned effigies of the billionaire businessman. Major demonstrations were reported in New York City, Chicago, DC and Los Angeles.
Asian markets rebounded sharply on Thursday, more than offsetting a brutal post-election selloff. Japan’s Nikkei index spiked nearly 1,100 points after posting its biggest loss since Brexit. China’s CSI 300 Index rose more than 1%.Click here for reuse options!
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