Silver On Sale – 4% Fall On Massive $2 Billion Of Futures Selling

Mark O'Byrne
March 3, 2017

Silver fell a very sharp 85 cents from $18.40 per ounce to as low as $17.65 per ounce yesterday for a 4.25% price fall soon after the London bullion markets closed yesterday despite no market news or corresponding sharp moves in other markets.

Silver had surged 15% in the first two months and had seen ten consecutive weeks of gradual gains. It had made convincing closes above the psychological $18 an ounce level and the 200 day moving average (DMA) at 18.155 and made 3-month highs only yesterday.

Mark O'Byrne is executive and research director of www.GoldCore.com which he founded in 2003. GoldCore have become one of the leading gold brokers in the world and have over 4,000 clients in over 40 countries and with over $200 million in assets under management and storage.We offer mass affluent, HNW, UHNW and institutional investors including family offices, gold, silver, platinum and palladium bullion in London, Zurich, Singapore, Hong Kong, Dubai and Perth. 

US silver mining began on a large scale with the discovery of the Comstock Lode in Nevada in 1858.

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