Expect Quiet Silver Trade Over Thanksgiving

iNVEZZ.com reported that silver is down for the second session in a row. With the US markets closed for the Thanksgiving holiday, trading today is unlikely to prove exciting.

As quoted in the market news:

Silver for immediate delivery had shed 0.7 percent, or 11 cents, to $16.38 as of 06:57 GMT, and was trading 2.4 percent below its 50-day simple moving average of $16.79. Yesterday’s US economic reports came in mostly worse than expected but failed to spur safe haven demand for the precious metal and silver ended the session nearly one percent in the red.

The Wall Street Journal quoted Jason Cerisola, metals dealer at MKS Group as saying that today precious metals ‘are likely to remain quiet’ as US banks are closed in observance of Thanksgiving Day.

Click here to read the full iNVEZZ.com report.