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?...
Read the full article on Seeking Alpha
For further details see:
Friday's Silver Sell-Off May Have Actually Been Great News For Silver Bulls