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Silver Price Slides to $16.78 After Strong Monday Trade
Apr. 07, 2015 09:19AM PST
Resource Investing News The silver price slid 1.1 percent on Tuesday and hit $16.78 an ounce. The decline came on the back of a stronger US dollar and after metals performed well during Monday trading.
The silver price slid 1.1 percent on Tuesday and hit $16.78 an ounce, Reuters reported. The decline came on the back of a stronger US dollar and after metals performed well during Monday trading.
“Bulls are frustrated yet again to see rallies fade … momentum buying is mostly seen as an opportunity to sell into,” said Ross Norman, CEO of bullion broker Sharps Pixley.
Commodities prices continue to reflect investor anticipation of a Federal Reserve rate increase later this year. If the Fed raises rates, investors will move out of safe-haven commodities that do not pay interest.
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| Commodities | |||
|---|---|---|---|
| Gold | 2385.34 | +17.68 | |
| Silver | 28.40 | +0.19 | |
| Copper | 4.47 | +0.10 | |
| Oil | 83.35 | +0.66 | |
| Heating Oil | 2.56 | -0.02 | |
| Natural Gas | 1.76 | +0.05 | |
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