Weekly Silver Review: COMEX futures slammed near $32.50 mark

Silver futures were slammed after testing a record high of $35 per ounce. The metal extended these losses last week with a break under $34 per ounce triggering even more selling. The counter tested one and half week low of $32.50 per ounce. Some stability emerged in the commodity as tepid US nonfarm data boosted hopes of continued monetary softening from the US Fed in near term. US non-farm payroll employment rose by just 12000 in October, very pale after a gain of around 230000 in previous reading. The average monthly gain has been around 194000 over the prior 12 months. Silver will also be tracking the trends in Copper prices in near as the red metal has been rather choppy in last few sessions.

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