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home / news releases / SLVO - Friday's Silver Sell-Off May Have Actually Been Great News For Silver Bulls

SLVO - Friday's Silver Sell-Off May Have Actually Been Great News For Silver Bulls

Credit Suisse X-Links Silver Call ETN IOPV

2024-04-17 08:00:00 ET

Summary

  • The spot price of silver fell from just over $29.60 per ounce to just under $27 before rebounding late in the day on Friday.
  • The timing of the fall was more significant than the extent of the sell-off. It indicates that the shorts and price manipulators in the paper market drove the selling action.
  • Despite the big sell-off, the spot price of silver still closed above $28. It was the first weekly close above $28 since 2013.

By Mike Maharrey

Silver endured a significant sell-off last Friday. Was this another step forward in the bull market?...

For further details see:

Friday's Silver Sell-Off May Have Actually Been Great News For Silver Bulls
Stock Information
Company Name: Credit Suisse X-Links Silver Call ETN IOPV
Stock Symbol: SLVO
Market: NASDAQ
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