Silver Falls Following Biggest Monthly Gain in Six Months

iNVEZZ.com reported that silver was down in Monday morning trade after achieving its biggest monthly gain in six months on Friday. The threat of higher US interest rates seems to be keeping the metal subdued.

As quoted in the market news:

Silver for immediate delivery had shed nearly seven cents, or 0.38 percent, to be $17.11 as of 06:51 GMT, some 2.8 percent above its 50-day simple moving average of $16.64. On Friday, the precious metal rallied 1.5 percent in response to a report showing weaker-than-expected US economic growth, closing out January 9.3 percent higher for its biggest monthly percentage gain since June of last year.

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