Silver futures fell 2.07% to settle at $58.89 per ounce on July 27, recording the session's largest intraday decline. The precious metal traded between $58.57 and $60.40, with volume reaching 20,190 contracts on COMEX.
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Silver drops 2.07% to $58.89 in largest intraday decline
COMEX silver fell 2.07% to settle at $58.89 per ounce on July 27, recording the session's largest intraday decline.
The metal opened at $59.81 and traded between $58.57 and $60.40, with volume reaching 20,190 contracts, according to COMEX data. The intraday range of $1.83 between the high and low marked the widest trading band of the session.
The close at $58.89 left silver $0.92 below its opening level. The session high of $60.40 gave way to selling pressure that pushed prices through the $59 threshold.
The $58.57 low serves as a near-term support level for COMEX silver. A break below $58 could extend losses toward $57, while reclaiming $60 would signal a recovery from the decline. US economic data releases will be the next catalyst for price direction.
This article is for informational purposes only and does not constitute investment advice.
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