Silver Price Sinks to $15.51 per Ounce

Silver dropped 0.33 percent on Wednesday to hit $15.58 an ounce, according to Investing.com. Earlier in the day, the white metal hit $15.51, its lowest level since December 1.

The dip came on the back of increasing US dollar strength. In fact, on Wednesday, the US dollar index climbed 0.75 percent to hit 99.5, the highest it has been since April 2003. Additionally, anticipation of higher US interest rates is looming over investors — the Federal Reserve is expected to increase rates around the middle of the year.