Silver retreats after three-day rally, ounce near 58.8 dollars

Silver prices retreated on Thursday, 23 July, after a three-day rally. Spot silver fell about 1.6 percent to roughly 58.8 dollars an ounce, while Comex silver slipped about 1.9 percent to near 59.15 dollars.

Analysts attributed the decline largely to profit-taking following the rapid gains of recent sessions. In India, silver fell 1.83 percent to 223,530 rupees per kilogram.