Silver Sinks to $19.57 on Little Activity in Iraq, Ukraine

This morning, silver lost 0.2 percent, or $0.04, to trade at $19.57 an ounce, according to Reuters. Tension in Iraq and Ukraine drove precious metals prices higher yesterday, but with no significant change in the news from those regions, investors are buying less silver and gold.

“Market participants no longer appear to rate the geopolitical risks quite as highly as before, meaning that [precious metals are] less in demand as a safe haven,” Commerzbank wrote in a note. “Presumably it is been financial investors above all who have taken advantage of the latest increase in the [precious metals prices] to grab profits while they can.”