Silver Price Unable to Hold above $20.00 as Dollar Stabilises

Silver Prices in Recovery After Sell-Off

Silver Prices in Recovery After Sell-Off

Silver

  • Buz Investors Silver Prices in Recovery The precious metal is trading at $16.17 per ounce at 10:40 GMT this morning, 0.91% higher from the New York close.
  • During the session, silver traded at a high of $16.33 per ounce and a low of $15.99 per ounce. In the New York session yesterday, silver fell 1.39% and closed at $16.02 per ounce.
  • Immediate downside, the first support level is seen at $15.90 per ounce, while on the upside, the first resistance level is at $16.45 per ounce.

Silver Prices in Recovery

Buz Investors Silver Prices in Recovery The precious metal is trading at $16.17 per ounce at 10:40 GMT this morning, 0.91% higher from the New York close. During the session, silver traded at a high of $16.33 per ounce and a low of $15.99 per ounce. In the New York

Silver Prices in Recovery Silver prices crashed $1.26, or 7.3%, on Thursday as markets dissected the Federal Reserve’s decision to raise interest rates. Policymakers also signaled faster rate increases in each of the next two years, putting pressure squarely on non-yielding assets.

The grey metal is on track for a weekly loss of nearly 5%, and has declined more than 9% since the start of November.

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Silver Prices in Recovery 

Meanwhile, February gold futures were up $5.90, or 0.5%, at $1,135.80 a troy ounce. Bullion plunged 3% on Thursday, reaching its lowest settlement since the start of February.

The US dollar was trading slightly lower against a basket of other major currencies Friday morning after surging to nearly 14-year highs in the prior session. The greenback scored huge gains against the euro, yen, franc and Canadian dollar in the wake of the Fed’s decision. The dollar index was last down 0.1% at 102.92.

 

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