Silver Futures Market News and Commentary
Apr Comex gold (GCJ20) on Wednesday closed down -6.9 (-0.42%), and Mar silver (SIH20) closed down -0.357 (-1.96%).
Precious metals on Wednesday moved lower for a second day with Mar silver at a 1-week low. Gold corrected lower from Monday's 7-year high and silver corrected lower from its 1-1/2 month high.
Precious metals prices on Wednesday were undercut by a stronger dollar and by reduced safe-haven demand after stocks rallied Wednesday morning. However, precious metals on Wednesday recovered from their worst levels on increased safe-haven demand after the S&P 500 later in the day erased early gains and dropped to a 2-1/2 month low.
Precious metals prices continue to see support from concern the spreading coronavirus endemic will slow the global economy and force the world's central banks to boost stimulus measures. Confirmed cases of the virus are now reported at 81,223 globally in more than 30 countries, with 2,771 deaths.
Gold prices on Wednesday were... Read more