Silver corrects after smashing gains, trades off five week high

COMEX Silver futures are witnessing some correction today after witnessing a smashing gain in the last session. The counter currently trades at $32.40 per ounce, down 0.65% on the day. The metal soared around 3.24% in last session as a break above $30 per ounce extended and managed to hit a five week top. Precious metals soared on the tussle in Middle-East after rebel forces in Syria have taken over the capital city of Damascus and President Bashar al-Assad has fled the country. A recent correction in Bitcoin from record highs also boosted bullion counters. US dollar index tested one month low before a recovery but looks tepid ahead of the US inflation numbers. Silver is trying to consolidate its recent gains. The metal gained around 1.90% in November and 3.34% in October.

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