Last week, silver surprised market participants by hitting a three-month high of $21.14 per ounce. Of course, as is always the case when the white metal gains, many wondered if it would be able to keep flying high. As it turns out, this time the answer was “yes.” In fact, silver outdid itself this week, hitting $21.24 on Wednesday afternoon.
That said, the week didn’t start off promisingly.
Weekly Recap – Silver (6/30 – 7/3):
On Monday, silver opened low and dropped to $20.75 midway through the morning, only rising just over $21 as the day drew to a close. Tuesday, a Canadian holiday, was less eventful, with the white metal trading in a fairly short range of $20.97 to $21.13. Wednesday, however, was more exciting. That’s the day silver reached $21.24, its high for the week thus far. [Yesterday] silver was fairly steady, though losses due to US Department of Labor’s June job numbers brought it slightly below $20 early in the morning.
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