First Majestic Silver Stock Retreats: What's Going On?
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First Majestic Silver Corp (AG) shares fell 3.79% to $16.75 as precious-metal stocks retreated following silver's drop from record highs. The iShares Silver Trust (SLV) reached all-time highs before declining, driven by a physical silver shortage in China and export restrictions. Analysts predict silver prices could rise to $85-$100 due to strong industrial demand. Despite the pullback, AG shows strong bullish momentum, trading above key moving averages, with support at $14.50 and resistance at $17.50. Over the past year, AG has surged 213.17%.
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