market talk

Spot silver's failure to break back above its 200-day
moving average at $34.94/oz has increased the risk for a correction lower, says
Commerzbank technical analyst Karen Jones. "It looks toppish short-term and the
near-term uptrend has been eroded," Jones says. Nearby support should be found
at $32.92/oz. If this is broken, the market may end up pushing back down to
$32.05/oz, or even $31.16/oz, before stabilizing, she says. Spot silver down 16
cents at $33.50/oz.