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Silver Market Recap Report for 7/23/2008

Silver prices tumbled along with gold as economic and inflation anxieties were apparently tempered by the gains in the Dollar and break in oil prices. In fact, the sell off in silver seemed to be part of a broad based liquidation wave across several physical commodity markets. The aggressive liquidation seen in the metals markets overshadowed any support silver may have garnered by the outlook for improved economic conditions as a result of the break in oil prices. With the marker falling below some key levels, chart based selling also seemed to add to the downward price momentum.




 
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