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    market news

    Silver Price Today: Weak Dollar Sends Silver to $16.38

    Investing News Network
    May. 12, 2015 09:16AM PST
    Silver Investing

    On Tuesday, a weaker dollar sent the silver price up 0.6 percent, to $16.38 an ounce. The dollar index slipped 0.6 percent against a basket of major world currencies.

    On Tuesday, a weaker dollar sent the silver priceĀ up 0.6 percent, to $16.38 an ounce, Reuters reported. The dollar index slipped 0.6 percent against a basket of major world currencies. A weakened dollar pushes investors toward safe-haven commodities, which can act as a hedge against risk.

    Continued uncertainty regarding Greek debt talks nudged European markets downward, which also encouraged investors to pursue metals. It’s unclear how long the rise will last,Ā as improvements to the dollar or European economic situation could send investors back to riskier assets that pay interest.

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