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iNVEZZ.com reported that silver was up in Monday morning trade despite the fact that safe-haven demand is down on the back of expectations that Greece will reach a deal with its creditors.
iNVEZZ.com reported that silver was up in Monday morning trade despite the fact that safe-haven demand is down on the back of expectations that Greece will reach a deal with its creditors.
As quoted in the market news:
Silver for immediate delivery had advanced over four cents, or 0.26 percent, to $16.24 an ounce as of 06:24 GMT, to be trading over three percent below its 50-day simple moving average of $16.75. During the previous session, the precious metal slid nearly one percent and closed at $16.20, the lowest since 05 January.
Market participants were paying close attention to developments in Europe as Greek government officials are set to submit a number of reform measures in exchange for the extension of the country’s bailout programme. The new deal will last only four months, after which point a new agreement will need to be inked.