Silver Futures Record Five-week Losing Streak

iNVEZZ.com reported that last week, silver futures declined for the fifth week in a row, recording their longest losing streak since the six weeks ended April 19, 2013.

As quoted in the market news:

So far today, [silver] has been moving in a tight 12-cent range around $19.5, near its lowest level in more than two months. Market participants continue to assess the outlook for the US economy against safe-haven seeking due to the armed conflicts in Ukraine and the Middle East.

On the New York Mercantile Exchange (NYMEX), September silver futures were up less than six cents to $19.58 a troy ounce as of 07:14 BST, having earlier tested $19.47 – their lowest level since June 17. They lost 38 cents, or 1.9 percent, on Friday in what was their biggest daily loss since August 5, to close at $19.52, below their 100-day simple moving average (SMA) for a fourth consecutive session.

Click here to read the full iNVEZZ.com report.