Silver Price Gains Following Release of Fed Meeting Minutes

iNVEZZ.com reported that the release of minutes from the US Federal Reserve’s January meeting pushed silver up from Wednesday’s six-week low.

As quoted in the market news:

Silver for immediate delivery had gained about 16 cents, or nearly one percent, to $16.62 per ounce as of 06:26 GMT, and was trading about 0.95 percent below its 50-day simple moving average of $16.78. Yesterday the precious metal hit a fresh intraday low of $16.24, the weakest since 09 January, but managed to claw back most of its losses and ended the session at $16.46, down 0.12 percent for the day.

Precious metals rallied yesterday after the release of minutes from the latest meeting of the Federal Open Market Committee. The record of the January 27-28 summit showed that Fed officials, while considering risks to the economic outlook to be “nearly balanced,” indicated that strengthening of the dollar, flash points from Greece to Ukraine and slow wage growth were weakening the case for the first rise in interest rates since 2006.

Click here to read the full iNVEZZ.com report.