Silver Drops 0.5 Percent, Hitting $16.92 per Ounce

Silver reached $16.92 an ounce on Tuesday after sinking 0.5 percent, according to Reuters. The drop came on the back of growing concerns about conflict in Ukraine, as well as Greece’s potential withdrawal from the Eurozone. These concerns have kept investors cautious.

Greek Prime Minister Alexis Tsipras has taken a firm stance on governmental debt. He noted recently that he will deliver on election promises and reject an international bailout extension, a statement that has rattled financial markets. Instead, Tsipras is seeking a new agreement to secure Greece’s funding needs until June.

The possibility of a Federal Reserve rate hike also loomed over investor decisions for the past while.