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Silver futures edged higher than expected on May 6.
On May 6, silver futures increased by $0.17, bringing the market price to $24.18 per ounce, according to Stock Market News.
However, ETF Daily News reported that analysts believe both gold and silver are in confirmed downtrends and expect gold and silver prices to decrease. Since it takes some time to reverse a trend, some experts are concerned that there will be no changes until people begin to buy the metals.