Silver Price Correction Not Surprising

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Thu, Dec 10, 2009

This latest round of downward pressure is a healthy correction needed to shake the speculative money out of the market.

Precious metals prices have suffered deep blows in recent trading days as investors fret over the direction of possible interest rate moves and the dollar.

“We are seeing liquidation from a lot of fast money that had jumped into gold on the premise that they want to diversify away from US dollar-based assets,” said Adam Klopfenstein, senior market strategist at Lind-Waldock.

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