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NEW YORK (AP) - Silver prices fell Wednesday after hitting a contract high, stalling when they couldn't break through key levels.
May silver, bolstered by Tuesday's news that the Securities and Exchange Commission has allowed the listing of shares for a silver-exchange traded fund on the American Stock Exchange, hit a contract high of $10.60 an ounce overnight and then a few more times during early pit trading. Traders at the time attributed this to follow-through speculative buying.
The May contract eventually backed down, however, to settle 7 cents lower at $10.495 an ounce.
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