Silver spot price falls on revived tapering concerns

September 23, 2013

NEW YORK (Sept 23)   The silver spot price has fallen today amid uncertainty over the Federal Reserve’s policy following its surprising decision not to start reducing its commodities-friendly asset purchases and subsequent comments suggesting that there might be some tapering of stimulus next month.

During European morning trading silver futures for December delivery were 0.5 percent down at $21.82 an ounce on the Comex in New York after having closed 5.85 percent lower at $21.92 on Friday. Earlier today, silver prices shed as much as 2.7 percent to a session low of $21.32, the lowest since September 18.

Silver prices were supported at $21.22, the low from September 18, while resistance was found at $23.07, the high from September 20.

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