Silver drops 6.2% after record run; flows shift from COMEX to London vaults
Spot silver slumped more than 6.2%, its steepest decline in six months, following a rally that briefly pushed prices to about $54.50/oz earlier this week. Analysts cited easing U.S. credit concerns, softer haven demand, and partial normalization in London market tightness. Over 25 million ounces reportedly moved from COMEX to London vaults. Gold fell around 1.9%, while platinum and palladium also declined more than 2% amid broad precious-metals profit-taking.
negative
1 day ago
Silver drops 6.2% after record run; flows shift from COMEX to London vaults
Spot silver slumped more than 6.2%, its steepest decline in six months, following a rally that briefly pushed prices to about $54.50/oz earlier this week. Analysts cited easing U.S. credit concerns, softer haven demand, and partial normalization in London market tightness. Over 25 million ounces reportedly moved from COMEX to London vaults. Gold fell around 1.9%, while platinum and palladium also declined more than 2% amid broad precious-metals profit-taking.
negative
Silver drops 6.2% after record run; flows shift from COMEX to London vaults
1 day ago
1 min read
69 words
Silver slides 6.2% after highs; metals retreat as haven demand eases.
Spot silver slumped more than 6.2%, its steepest decline in six months, following a rally that briefly pushed prices to about $54.50/oz earlier this week. Analysts cited easing U.S. credit concerns, softer haven demand, and partial normalization in London market tightness. Over 25 million ounces reportedly moved from COMEX to London vaults. Gold fell around 1.9%, while platinum and palladium also declined more than 2% amid broad precious-metals profit-taking.
Spot silver slumped more than 6.2%, its steepest decline in six months, following a rally that briefly pushed prices to about $54.50/oz earlier this week. Analysts cited easing U.S. credit concerns, softer haven demand, and partial normalization in London market tightness. Over 25 million ounces reportedly moved from COMEX to London vaults. Gold fell around 1.9%, while platinum and palladium also declined more than 2% amid broad precious-metals profit-taking.