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Silver Plunges 3% As Traders Reassess Fed Expectations Conical

Silver prices fell 3 % on Thursday, as investors liquidated long positions amid uncertainty about the stimulus program from the Federal Reserve.

The prices of precious metals have continued largely change expectations about whether the Fed would begin reducing its USD85 billion dollars a month the asset purchase program at the end of the year.

On the Comex division of the New York Mercantile Exchange, silver futures for December delivery traded at USD22.34 a troy ounce during European morning trade, up 2.8 %.

Silver prices fell as much as 3.4 % before hitting a session low of USD22.19 a troy ounce, the lowest level since October 22.

The December contract ended 2.18% higher on Wednesday to close at USD22.98 a troy ounce.

Futures were likely to find support at USD21.98 a troy ounce, the low of October 22 and resistance at USD23.09, the high of October 30. Read More Info Visit here - Silver Plunges 3% As Traders Reassess Fed Expectations Conical