Silver Crashes Below $60 From $122 and Enters Oversold Zone. What Should You Do?
6 Articles
6 Articles
After rising more than 3% in the previous session, ounce silver fell below $50 with renewed accelerated selling. As of 08:30 Turkish time, the precious metal was trading at $49.49, with technical analysis indicating $49.040 as the first support level.
The Economic Times
Times of IndiaSilver crashes below $60 from $122 and enters oversold zone. What should you do?
Silvers sharp rally has reversed amid expectations of higher US interest rates, rising bond yields and a stronger dollar. HSBC expects limited upside as weaker demand, increasing supply and a narrowing market deficit reduce the chances of the metal returning to $100 soon.
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Silver Price Week Ahead: Below $50 After an 18% October Slide – Midterms Tuesday, Jobs Friday
Silver prices enter the first week of November below $50 an ounce after COMEX December futures settled at $49.276 on Friday, October 30, down 5.93% for the session and approximately 18.34% for October. The decline leaves traders facing two potential market-moving events this week: the US midterm elections on Tuesday, November 3, and the October employment report on Friday, November 6. The central question is whether October's selling has exhaust…
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