Cautious Investing Pushes Silver to $23.57 an Ounce

Silver prices were down September 9, with futures for December delivery hitting $23.57 an ounce, a fall of $0.33 an ounce from the previous session, Kitco reported.

Investors are cautious due to speculation that the Federal Reserve will cut back on its stimulus program. US jobs data came in weaker than expected last week, yet the Fed may still continue to taper its bond-buying program, which drives prices of metals higher, Reuters reported.

“The much-awaited U.S. August jobs report provided little insight into the Fed’s policy decision on September 17-18,” VTB Capital analyst Andrey Kryuchenkov told the source. “It can still go either way, and players will choose to play it safe without committing to fresh longs until then.”