iNVEZZ.com reported that silver futures are on the rise for the second day in a row. However, that upward movement doesn’t come close to making up for the metal’s big loss on Tuesday.
As quoted in the market news:
Silver remains close to the 12-week low it reached on Tuesday. The entire precious metals complex has been under pressure this week and, since this has coincided with hardly any changes in the macro environment, some analysts argue it is rooted in positioning and technicals.
On the New York Mercantile Exchange (NYMEX), silver futures for December settlement were up 0.03 percent, or a little more than half a cent per troy ounce, to $19.19 as of 07:55 BST. They gained 0.19 percent yesterday, after losing 1.74 percent on Tuesday, when they touched an intraday low of $19.04 – their weakest since June 10.