Silver Price Sinks, Continuing Trend from Wednesday

iNVEZZ.com reported that the silver price fell Thursday morning, continuing a trend that began on Wednesday. Better global equity markets and a stronger dollar contributed to its fall.

As quoted in the market news:

Silver for immediate delivery had fallen 0.3 percent, or five cents, to $16.44 as of 06:26 GMT, and was trading 1.8 percent above its 50-day simple moving average of $16.16. On Monday, it touched $16.68, its highest level since 15 December as global equities fell on worries that Greece may leave the eurozone.

However, stock markets rallied yesterday on the back of a modest rebound in oil prices and the release of minutes from the Fed’s latest meeting on monetary policy. Gary Wagner, editor of The Gold Forecast, wrote in a note from yesterday: ‘The rise in oil helped stock prices, which had been worried about the steep, fast fall in energy’.

Click here to read the full iNVEZZ.com report.