Silver Drops on Strong US Dollar

On Wednesday, silver dropped 0.2 percent, to $17.69 an ounce, according to Reuters. The white metal has recovered from the four-year low of $17.30 it reached on Monday, but further gains are being capped by the dollar’s strong performance, even with geopolitical strife mounting on the back of US coalition-led airstrikes in Syria. The metal is usually looked to as a safe haven during such times of unrest.

That said, positive US economic indicator readings have generated investor musings that the Fed may raise interest rates more quickly than expected. That could steer investor focus away from assets that do not bear interest.