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iNVEZZ.com reported that on Thursday the price of silver for immediate delivery was down 1.13 percent, at $17.47 per ounce. A strong US dollar continues to cause problems for the white metal.
iNVEZZ.com reported that on Thursday the price of silver for immediate delivery was down 1.13 percent, at $17.47 per ounce. A strong US dollar continues to cause problems for the white metal.
As quoted in the market news:
On Monday, spot silver touched a four-year trough of $17.34 in intraday trading, the lowest since July 2010. Silver for immediate delivery has dropped 13.18 percent below its 200-day simple moving average of $19.93.
The price of December futures has fallen as well, giving up 23 cents. The contract slid 1.3 percent to $17.46 as of 08:47 BST on the COMEX in New York. The futures fell 0.42 percent during the last session.
The US Dollar index (DXY), a gauge which pegs the greenback versus a basket of its peers, yesterday climbed above 85.000 for the first time since July 2010 and was up 0.41 percent to 85.389 as of 08:55 BST.