Precious Metals

iNVEZZ.com reported that on Friday morning silver slipped below $16 for the first time since 2010. Later, silver for immediate delivery was able to make it back up to $16.05 per ounce.

iNVEZZ.com reported that on Friday morning silver slipped below $16 for the first time since 2010. Later, silver for immediate delivery was able to make it back up to $16.05 per ounce.

As quoted in the market news:

Precious metal prices took a hit [Thursday] after data from the Bureau of Economic Analysis showed that year-on-year US GDP growth in Q3 came in at a higher-than-expected rate of 3.5 percent. Silver had already been put under pressure earlier this week after the Fed largely dismissed recent financial market volatility, slow growth in Europe and a weak inflation outlook as unlikely to hinder progress towards its labour market and inflation goals.

Silver’s appeal as an alternative to equities also waned [Friday] after the Bank of Japan’s (BOJ) policy board voted by a 5-to-4 margin to expand the pace of its quantitative easing asset purchasing programme. The unexpected announcement sent the Nikkei 225 index flying. It closed at a seven-year peak of 16,413.76 points following a 4.83 percent gain.

Click here to read the full iNVEZZ.com report.

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Markets
TSX20197.61+15.69
TSXV702.09-3.49
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COMMODITIES

Commodities
Gold1854.69+8.91
Silver21.89+0.10
Copper4.30+0.03
Palladium1984.00+17.00
Platinum964.50+5.50
Oil110.79+0.51
Heating Oil3.63+0.01
Natural Gas8.10+0.02

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