Chinese Dragon Danger to Global Recovery?

Feb. 04, 2010 09:20AM PST

While the doom and gloom over China’s potential global economic impact is casting a shadow over the markets as of late, there are those who feel the worry is a bit overdone. Tuesday, silver spot prices managed to recover slightly from last week’s sell-off hitting as high as $16.81 in New York early …

While the doom and gloom over China’s potential global economic impact is casting a shadow over the markets as of late, there are those who feel the worry is a bit overdone.

Tuesday, silver spot prices managed to recover slightly from last week’s sell-off hitting as high as $16.81 in New York early morning trading to close later in the day at $16.70 an ounce. However, silver fell as low as $16.37 early Wednesday morning as the dollar rebounded. Analysts expect prices to move sideways between the $16 and $17.75 range this week.