Silver Price Little Changed Since Wednesday’s Drop

iNVEZZ.com reported that Thursday brought little change to silver’s price, though the previous session saw the white metal drop the most since the start of October.

As quoted in the market news:

Silver for immediate delivery had lost 0.14 percent, or two cents, to $17.11 as of 09:39 BST, to be trading nearly six percent below its 50-day simple moving average of $18.25. The precious metal slid over two percent, or 36 cents during the previous session, posting its steepest decline since September 30.

Yesterday’s speculation that the European Central Bank (ECB) might implement further monetary easing measures by year-end via the purchase of corporate bonds helped the dollar reach a one-week high and put silver under pressure. The DXY dollar index, which tracks the greenback’s performance against six of its major peers, stood at 85.88 as of 08:43 BST, up 0.16 percent intraday, on the back of yesterday’s 0.44 percent rally.

Click here to read the full iNVEZZ.com report.