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The silver price followed a familiar trajectory on Wednesday, and was pushed downward by the strengthening US dollar.
The silver price followed a familiar trajectory on Wednesday, and was pushed downward by the strengthening US dollar.
iNVEZZ.com reported that silver for immediate delivery decreased 0.17 percent, or approximately $0.02, to reach $16.14 an ounce. That means silver was trading more than 5 percent below its 50-day simple moving average of $17.05.
The decline came after silver reached $16.45 on Monday, the highest level seen so far in November. It also followed the release of a report from Thomson Reuters GFMS — it states that physical demand for the metal will fall by 6.7 percent this year.
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