Silver Continues Downward Spiral

Bloomberg reported that silver’s woes continue, falling as much as 6.1 percent in London, scraping a bottom not seen since August 2010.

As quoted in the market report:

An ounce of gold bought as many as 66.5 ounces of silver in London today, the most since August 2010. Silver is 34 percent lower this quarter, set for the biggest such drop since the start of 1980. It’s the worst performer this year on the Standard & Poor GSCI gauge of 24 commodities. The index is down 5.5 percent this year, partly on concern that growth may slow in China.

To view the whole Bloomberg report, click here.