The Gold Report: Silver seems to have stabilized at about $20/ounce ($20/oz). Is this significant? If this support holds, can we expect upward movement? [Editor's note: Silver was trading above $21/oz at the time of publication.]
Chris Lichtenheldt: I think $20/oz is a psychological level. Once we’ve stabilized above that, it’s somewhat reaffirming that the drop could be over. But it is hard to say if it’s all over and we’re now back to upward moving prices because the price drop was rather unexpected and dramatic to begin with, so comfort will be slow to return.
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