Silver on Track for Weekly Gain

iNVEZZ.com reported that silver remains on track for a weekly gain despite the fact that it has thus far declined during Friday trade. Positive US data has boosted the dollar and pushed down the white metal.

As quoted in the market news:

Silver for immediate delivery had fallen 0.36 percent, or six cents, to $17.01 as of 06:23 GMT, and was trading 2.4 percent above its 50-day simple moving average of $16.60, having managed to close above the measure earlier this week for the first time since 1 July. The precious metal was on course for a 4.5 percent weekly gain, and has rallied over 10 percent since the beginning of the month.

Click here to read the full iNVEZZ.com report.