Silver Drops to $23.27 an Ounce in New York

Silver prices declined today amid fears that the Federal Reserve will cut back on its stimulus program. News that Syria has agreed with Russia’s proposal to turn over its chemical weapons cut demand for wealth protection, also impacting metal prices, Bloomberg reported.

Silver futures for December delivery on the COMEX in New York were down to $23.27 an ounce, a drop of $0.44, Bloomberg also notes.

Spot silver prices also fell $0.44, to $23.22 an ounce, Reuters said.