Silver Tumbles Most In 6 Months [iShares Silver Trust (ETF), SPDR Gold Trust (ETF)]

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July 24, 2014 2:57pm NYSE:GLD NYSE:SLV

silver demandTyler Durden: Silver is down almost 3% today – its biggest drop since the end of January as precious metals both tumble back towards pre-June-FOMC levels.

News on China demand appears to be the main catalyst according to desk chatter (as well as a break through the key 50-day and 100-day moving-averages) with gold testing down to its 200-day moving average at $1286.

Worst day for Silver in 6 months.


Precious metals are retracing gains from the June FOMC… (and testing technical levels)

Charts: Bloomberg

This article is brought to you courtesy of Tyler Durden From Zero Hedge.

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