Silver Hits Lowest Price Since June 2010

Silver is currently selling for $17.75 per ounce. According to iNVEZZ.com, the white metal fell as low as $17.30 earlier, its worst price since June 2010. Factors driving the metal down include a high US dollar, investors reducing their long positions and “the possibility of a sooner-than-expected US rate hike.

As quoted in the market news:

The price of silver for December delivery touched fresh lows as it shed 31 cents to $17.53 as of 07:39 BST on the COMEX in New York and is on course for a second straight session of declines after it fell 3.63 percent on Friday. The settlement closed last week at $17.85, slightly above the intersession low of $17.78 which was the worst performance in over four years.

On a weekly basis, December silver futures lost 76 cents, or 4.08 percent, which was the ninth weekly decline in the past 10 weeks.

Click here to read the full iNVEZZ.com report.