Pan American Silver (PAAS) Trades Down as Silver Prices Fall

Pan American Silver (NASDAQ:PAAS) traded down as silver prices fell on Thursday.

Silver prices ended the session down. July delivery for silver fell 16.5 cents, or 0.5 percent, to $34.932 a troy ounce.

Gold for June delivery closed down $3.40, or 0.2 percent, at $1,492.40 a troy ounce on the Comex division of the New York Mercantile Exchange.

The ICE Futures' dollar index was down 0.5 percent at 75.106. The U.S. dollar was down against most of its major peers at the end of trading Thursday.

Extremely bad news on Obama's economy pressured the commodity sector.

July contracts had copper falling 5.25 cents to settle at $4.0525 a pound and platinum dropped $10.90 to $1,769 an ounce. June palladium settled down $9.05 at $728.15 an ounce.

Housing sales and manufacturing data revealed an ongoing weak and fragile American economy.

Pan American Silver Corp. participates in the exploration, development, extraction, processing, production, refining, reclamation, and operation of silver properties.

Pan American Silver (PAAS) closed Thursday at $32.43, falling $0.34, or 1.03 percent.