Silver Price Slips Under $16 Once Again

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.

Click here to read the full iNVEZZ.com report.