Slightly weaker but mostly flat: Silver is currently trading at $23.95 per troy ounce as it maintains an active range between $23.88 and $24.
On the flip side, data for United States Initial Jobless Claims published yesterday at 13:30 UTC came out at 205,000, beating projections of 215,000 and showing improvement over the preceding figure of 206,000.
Amid the market gloom, United States Consumer Price Index released yesterday at 13:30 UTC with a figure of -0.1%, while the previous figure was 0.1%. United States Core Consumer Prices came out at 0.3%, while a consensus of analysts was expecting 0.3%.
Despite being in the red so far in the current trading session, Silver peaked above its 10 day Simple Moving Average around $23.91 — typically an early indicator of a new bullish trend beginning to emerge.
Overall, looking at the technical analysis landscape, it seems CME Silver might start pointing upward in the short term.
Taking a look at other Metals commodities, negative performances are evident as Copper is trading around $4.18 (down 1.55 cents).
Though CME Silver has been dropping, other Metals have been performing better: Platinum goes up 0.84% to trade around $1,083.6.
So far this year, CME Silver has declined 3.41% while touching highs around $26.89 earlier this year.