Silver Price Hits $16.99 per Ounce

Early Tuesday, the silver price rose to $16.99 an ounce for a 0.3-percent gain as the dollar fell against world currencies, Reuters reported.

The US currency has been a powerhouse this year, and has posted consistent gains. However, this week, strong economic data from the Eurozone caused the dollar to dip against the euro.

Precious metals are generally more appealing to investors when the dollar is weak. When that happen they tend to turn to metals like silver as a safe haven.