Silver Drops to $19.71 an Ounce with Strong US Dollar

Today, silver lost 1.4 percent, or $0.28, to trade at $19.71 an ounce, according to Reuters.

A stronger dollar is making the metal less appealing, the news source reported, and investors have pulled back slightly as they await the release of the US Federal Reserve March meeting minutes. The minutes are expected to contain clues regarding near-term US monetary policy, the direction of which will significantly impact prices of precious metals.

Physical demand for precious metals is also low, further contributing to the silver price decline, Reuters said.