Silver Drops to $19.33 an Ounce as Investors Await Data

Today, silver dropped 1.2 percent, or $0.23, to $19.33 an ounce, according to Reuters.

The metal is down partially because investors are holding back as they await the results of a US Federal Reserve policy meeting that begins today and will last for two days. However, silver has been cushioned in part by ongoing tension in Ukraine.

Moving forward, the US nonfarm jobs report, due out soon, should give insight into the direction of the country’s economy. That is likely to impact precious metals prices as stronger equities generally mean less interest in safe-haven investments like silver and gold.