Silver Set for First Weekly Drop in December

iNVEZZ.com reported that though silver was on the rise Friday morning, it looks set to record its first weekly drop in December.

As quoted in the market news:

The precious metal has recovered some ground following the end of the Federal Reserve monetary policy meeting, however, gains have been limited by dollar strength and low oil prices.

Silver for immediate delivery had risen 0.56 percent, or nine cents, to $15.92 as of 06:34 GMT, and was trading over three percent below its 50-day simple moving average of $16.45. It was poised for a 6.2 percent weekly fall, having declined over seven percent by Tuesday’s close.

Click here to read the full iNVEZZ.com report.