LIVE MARKET ALERT Silver futures traded lower in intraday dealings, with spot prices slipping to 90.55 per ounce, marking a 2.69% decline. The pullback reflects profit-taking among short-term traders after recent gains, while subdued industrial demand projections are weighing on sentiment across the precious metals complex.
Technical indicators suggest resistance near recent highs and potential support forming around the 90.00 level. Market participants are closely monitoring trading volumes and shifts in speculative positioning to assess whether the current move indicates a deeper correction or a temporary consolidation phase.
Key Drivers:
• Reduced industrial demand expectations continue to limit upside momentum in the metals sector.
• Profit-taking activity and a firmer U.S. dollar environment are adding downward pressure on intraday silver valuations.
This report is for informational purposes only and does not constitute investment advice. Market conditions can change without notice, and past performance is not indicative of future results.
Silver Prices Retreat as Market Sentiment Weakens
"Silver fell 2.69% to $90.55 per ounce as profit-taking and weaker industrial demand weighed on prices; resistance seen near highs, support around $90.00."
Technical indicators suggest resistance near recent highs and potential support forming around the 90.00 level. Market participants are closely monitoring trading volumes and shifts in speculative positioning to assess whether the current move indicates a deeper correction or a temporary consolidation phase.
Key Drivers:
• Reduced industrial demand expectations continue to limit upside momentum in the metals sector.
• Profit-taking activity and a firmer U.S. dollar environment are adding downward pressure on intraday silver valuations.
This report is for informational purposes only and does not constitute investment advice. Market conditions can change without notice, and past performance is not indicative of future results.