April 12, 2021
Precious metals, particularly silver futures and ETFs, are falling Monday, as the futures traders may be reigniting the downtrend to begin the trading week, amid a dearth of headline news to help move markets.
June gold futures dropped $16.50 to trade at $1,728.30 an ounce, while May Comex silver futures declined $0.570 to $24.75 an ounce. The moves have been tougher on silver which is down 2.25% as of almost 3 PM EST.
Technical analysts are suggesting that silver remains in its nearly 3-month downtrend, which could be reasserting itself based on the action from last Friday and today, where prices broke below recent highs near $25.67 an ounce.
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