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Last week, July Comex Silver prices reached their highest level since January 2015, driven mostly by the Bank of Japan’s decision to hold off expanding monetary stimulus and weaker equity markets. The dovish U.S. Federal Reserve monetary policy statement also helped support the surge in prices. The Fed kept the door open to a hike in June, but showed little sign it was in a hurry to tighten monetary policy.
Although silver prices are relatively expensive and nearing a key technical resistance area, the news from the Fed is likely to support higher prices into June as long as there aren’t ... (read more)