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Like gold, silver was negatively affected by a stronger dollar and concerns over the Federal Reserve’s latest policy-making minutes on Monday.
Like gold, silver started the week being negatively affected by a stronger dollar and concerns over the Federal Reserve’s latest policy-making minutes. As the dollar gains against other currencies, it becomes more expensive for foreign investors to buy underlying commodities. Additionally, the Fed has been boosting the market with its bond-buying program, but it’s possible the stimulus will be ending soon.
Prices for September silver fell $0.29 to $23.03 an ounce, according to MarketWatch. Later in the day, they reached $23.14 an ounce, The Street reported. However, this is still a $0.19 decrease from the previous session.