After a three-month rally, silver sees profit-taking; is this a signal for gold at resistance levels? silver profittaking
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Some analysts note that after silver's 40% rally from two-year lows in September, the precious metal saw some solid profit-taking at resistance at $24.50. The selling pressure comes as the U.S. dollar appears to have found renewed support after significant selling pressure. The U.S. dollar Index is seeing solid support around 102 points, a seven-month low.
For some analysts, however, weaker silver prices don't bode well for the overall market in the near term.
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