Bullish the CME Silver future runs out of steam at $23.46; currently at $23.45 per troy ounce

Silver spikes to $23.45 per troy ounce, climbing by 53.5 cents.

Nevertheless, Core Durable Goods Orders in United States fell short of market expectations (0%) with a reading of -0.2%, continuing the decline from the previous figure of 0.3%. United States Pending Home Sales released earlier showed a marked improvement to 0% from the preceding data of -5.2%, but fell short of the 0.5% figure forecast by a consensus of market analysts.

Meanwhile, United States Core PCE Price Index (MoM) (Apr) came out at 0.4, while a consensus of analysts was expecting 0.3.

This rally in CME Silver's price coincides with other Metals as Copper is up 2.33%.

Having soared to a high of $26.35 approximately 22 days ago, the CME Silver future is now trading 13.06% lower.