Silver Support levels broken, looking to 19.20
commodities

Silver Prices Fall More Than Five-Month Lows

Silver Prices Fall More Than Five-Month Lows

Silver

  • Buz Investors  Silver Prices Fall The precious metal is trading at $16.47 per ounce at 10:40 GMT this morning, 1.14% lower from the New York close.
  • During the session, silver traded at a high of $16.73 per ounce and a low of $16.46 per ounce. In the New York session yesterday, silver fell 2% and closed at $16.66 per ounce, tracking losses in gold prices.
  • Immediate downside, the first support level is seen at $16.26 per ounce, while on the upside, the first resistance level is at $16.87 per ounce.

Silver Prices Fall

Silver Prices Fall More Than Five-Month Lows

 Silver Prices Fall   Silver prices declined for a third consecutive day Friday and were on track for another weekly loss, as rate-hike bets continued to fuel the US dollar.

Gold futures also fell $6.60, or 0.5%, to $1,210.30 a troy ounce. Bullion reached an intraday low of $1,201.30, which would have been the lowest settlement since February.

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The US dollar surged to fresh 14-year highs on Thursday after Federal Reserve Chair Janet Yellen indicated the US central bank was leaning toward raising interest rates soon.

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Silver Prices Fall

“At this stage, I do think that the economy is making very good progress toward our goals, and that the judgment the [FOMC] committee reached in November still pertains,” Yellen told Congress on Thursday.

The dollar index extended its gains Friday, rising 0.1% to 100.98. The greenback is up more than 3% over the past month and has seen its gains accelerate since the November 8 election.




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