Silver Bounces Back from Monday’s Decline

Monday brought a sharp decrease for the silver price, but Tuesday was a different story.

iNVEZZ.com reported that on Tuesday morning, silver rose 0.5 percent, or almost $0.08, to reach $15.69 an ounce. While still more than 4 percent below its 50-day simple moving average of $16.38, the rise is a considerable improvement over Monday, when silver fell 2.67 percent.

Monday’s decline has been attributed to a fall in the oil price. However, a slightly softer US dollar helped the white metal out on Tuesday.