Silver Price Edges Up Despite Easing Greece Turmoil

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.

Click here to read the full iNVEZZ.com report.