Fed Ends QE, Silver Nears Four-year Low

iNVEZZ.com reported that silver sank Thursday to a three-week low and is not far off from a four-year low set earlier this month.

As quoted in the market news:

The precious metal was put under pressure after the US Federal Reserve ended its quantitative easing (QE) asset purchasing program and voiced confidence in the strength of economic recovery.

Silver for immediate delivery had plummeted 1.58 percent, or 27 cents, to $16.79 as of 08:25 GMT, and was trading 7.3 percent below its 50-day simple moving average of $18.13. The price has fallen to its lowest level since the four-year trough of $16.65 on 6 October.

Click here to read the full iNVEZZ.com report.