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iNVEZZ.com reported that so far this week silver has “extended last week’s decline” on the back of a strong US dollar. Last Friday, precious metals were hurt by the Bank of Japan’s decision to grow its bond-buying stimulus program.
iNVEZZ.com reported that so far this week silver has “extended last week’s decline” on the back of a strong US dollar. Last Friday, precious metals were hurt by the Bank of Japan’s decision to grow its bond-buying stimulus program.
As quoted in the market news:
Silver for immediate delivery had tumbled over one percent, or 18 cents, to $15.95 as of 08:40 GMT, and was trading 10 percent below its 50-day simple moving average of $17.87. During the previous session spot silver broke below $16 for the first time since February 2010. The precious metal declined for a fourth straight month in October, its worst run since June 2013. Prices have fallen 18 percent so far this year after losing 36 percent in 2013.