Daily Silver News: May 23 – Silver Price Pulled Back Below $31

From silverpriceforecast.com

Silver extends yesterday’s retreat as investors await more data. The silver futures contract lost 1.81% on Wednesday, May 22, as it pulled back from its Monday’s new long-term high of $32.75. On Monday, silver rallied by 3.7% and reached a new high, extending advances after breaking above the $30 level. It was gaining on rising gold and stock prices, weakening U.S. dollar. Last week, the market broke a short-term consolidation. In early April, silver rallied due to Middle East tensions, reaching a new medium-term local high of $29.91. Then, it sold off towards a local low of $26.25, reached on May 2. Today, ... (full story)