Silver Price Unable to Hold above $20.00 as Dollar Stabilises

Silver Prices Draw Support from Dollar Retracement

Silver Prices Draw Support from Dollar Retracement

Silver

  • Bux Investors Silver Prices Draw Support  The precious metal is trading at $16.27 per ounce at 10:40 GMT this morning, 0.43% higher from the New York close.
  • During the session, silver traded at a high of $16.35 per ounce and a low of $16.20 per ounce. In the New York session yesterday, silver rose 0.5% and closed at $16.20 per ounce, tracking gains in gold prices.
  • Immediate downside, the first support level is seen at $16.10 per ounce, while on the upside, the first resistance level is at $16.40 per ounce.

Silver Prices Draw Support

Silver Price Unable to Hold above $20.00 as Dollar Stabilises

Silver Prices Draw Support  A lack of liquidity became an important element at some point of Thursday with uneven trading conditions. The mixture of a weaker dollar, decrease bond yields and gains in gold helped support silver prices.

The dollar got here beneath similarly selling strain towards the yen for the duration of Thursday’s Asian session with USD/JPY lows just below 116.25 with underlying danger situations additionally more fragile. Silver prices moved better from past due in the US session with a peak around $sixteen.30 earlier than drifting weaker.

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Silver Prices Draw Support

The dollar became not able to gain any traction throughout the eu session and there was also a small decline in US yields at some point of the consultation with the 10-yr yield protecting below the 2.50% degree.

US jobless claims had been decrease than anticipated with a decline to 265,000 within the ultra-modern week from 275,000 formerly and below the expected discern of 276,000, which maintained self assurance inside the labour market.

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