The silver price fell to $15.45 an ounce on Tuesday, a 1 percent drop.
The silver price fell to $15.45 an ounce on Tuesday, a 1 percent drop, Reuters reported. The dip was matched across other safe-haven commodities, and reflects investors’ desire to move away from investments that do not pay interest ahead of an expected Federal Reserve interest rate hike.
The strong dollar is also harming silver’s performance. Despite a minor dip on Tuesday that pushed the dollar down 0.2 percent, the US currency is currently hovering near its highest valuation in 12 years. That makes commodities that are priced in dollars more expensive for foreign currency holders and has further depressed silver demand.