We hold a short view on Silver whilst it remains below key resistance at $22.2 despite it's rebound today. The precious metal has been in a downtrend since mid June as the FED indicated a more hawkish stance on monetary policy causing the US dollar to strengthen. Additionally, yields have been rising with the 10 year treasury note yield rising from 1.3% to 1.5% over the past week putting further pressure on Silver prices. We await US GDP growth rate, jobless claims and GDP price index releases this afternoon for any significant price action.
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