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Silver Market Recap Report for 7/17/2008

The silver market came under significantly more selling pressure than the gold market during the action Thursday and that is surprising considering that the classic physical commodity market fundamentals for silver might have been improved by the recovery in the US numbers and the bounce in the US equity market. Nonetheless, the silver market seemed to fade in the face of the energy decline and certainly in the face of the slight bounce in the Dollar. It is also possible that a series of technical chart violations in silver prompted some follow through technical selling.




 
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