Silver plunges over 15% in an hour delivering a clear sign that it’s too early to increase exposure to precious metals
Just 5-days after silver plunged over 35% in one day it was at it again on Thursday afternoon, falling sharply at 1pm AEST crushing hopes of the bulls that we’d seen the worst of the rout in precious metals.
Spot silver tumbled as much as 16.6%, having briefly recovered above $90 an ounce in early Asian trading. Meanwhile, spot gold dropped as much as 3.5% in comparatively choppy trading.
Silver & gold might already be closer to a swing low than last week’s high, but the ongoing volatility leaves us comfortable to be observers for now.
- MM is not planning on increasing our precious metals exposure at this stage.
