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Silver traded at $17.07 per ounce on Tuesday, its lowest level since March 2010, according to Reuters.
Silver traded at $17.07 per ounce on Tuesday, its lowest level since March 2010, according to Reuters. The metal is on its way to the biggest quarterly loss it has seen since the middle of 2013, the source reported.
The same factors responsible for dragging gold prices down are also impacting silver. This includes a stronger dollar, expectations that the U.S. Federal Reserve will raise interest rates soon and positive U.S. economic data. The U.S. dollar has seen 11 weeks of gains as investors expect that the Fed will raise interest rates soon, before Japan and the euro zone do the same.
On the other hand, investors are watching unrest in Hong Kong, where pro-democracy protesters are blocking the streets. An escalation in tension in that country could lend support to precious metals demand.