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Silver Market Recap Report for 8/7/2008

The silver market forged a big range down move Thursday in the face of overt weakness in the gold market. Clearly an upside breakout in the US Dollar masked over the prospect of flight to quality buying in the silver, which in turn was probably undermined by sagging physical demand expectations. With the Dollar rising and the economy slowing it is also possible that some silver traders are concerned that investment interest in silver will continue to soften.




 
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