Silver Falls to $16.35 per Ounce

On Tuesday, silver lost 0.4 percent to trade at $16.35 per ounce, according to Reuters.

Low oil prices and a positive US economy are buffeting precious metals. The dollar also rose against a basket of currencies, due in part to comments on Monday from Federal Reserve Vice Chairman Stanley Fischer; they that indicate interest rates will soon rise. Should interest rates rise more quickly than investors had expected previously, precious metals prices could fall even further.