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Silver Weekly Price Analysis – Can Silver Recapture $100?
The silver market has rallied significantly during the course of the week to break well above the $90 level, and it now looks like we are going to try to go looking to the $100 level. The $90 level is an area that I think will offer short-term support. But even if we break down below there I think there’s plenty of buyers at $80 as well. We have a new wrinkle in the situation now as Mexico erupts in violence. There are some questions as to whether or not silver production continues. Mexico is the world’s number 1 exporter of silver, and that of course has an influence here.
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