Metals traders focused on CME Silver as it powers 2.34% higher

Silver spikes to $23.45 per troy ounce gaining 53.5 cents.

Nevertheless, United States Core Durable Goods Orders published today at 12:30 UTC came out at -0.2%, falling short of the 0% projections and continuing its decline from the previous 0.3% figure. Highly important Pending Home Sales data from United States beat analyst expectations of 0.5% with a reading of 0%.

At the same time, 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 gained 2.33% and is currently trading at $3.67.

22 days ago the CME Silver future reached a significant high of $26.35 but has consequently lost 13.06% since then.