This morning, silver fell 0.4 percent, or $0.08, to trade at $20.81 per ounce, according to Reuters.

Stronger currencies and equities diminish the appeal of silver as a hedge against risk, and that’s what seems to be happening this week. The US dollar is up 0.2 percent against a basket of other currencies, and European shares have risen in part due to signs of cooperation from pro-Russia rebels in Ukraine.