Silver Price Sinks Following Positive Close Friday

iNVEZZ.com reported that after closing in the black on Friday, silver was down Monday morning. The precious metal fared well last week due to an interest rate cut from the People’s Bank of China.

As quoted in the market news:

Silver for immediate delivery had fallen 0.2 percent, or about three cents, to $16.38 as of 06:48 GMT, and was trading over three percent below its 50-day simple moving average of $16.92. The precious metal gained over one percent during the previous session and touched an intraday high of $16.60, the strongest level so far this month.

Click here to read the full iNVEZZ.com report.