Silver Slips Even Further, Hitting $15.13 an Ounce

Following in the footsteps of gold, silver fell to a fresh low on Wednesday. Reuters reported that the white metal hit its lowest level since February 2010, reaching $15.13 an ounce.

Along with a strengthening US dollar after Republican victories in the mid-term elections, weak demand for precious metals from China has contributed to this decline.

The bright side is that since the gold/silver ratio has reached its highest level since 2009 — at 75 to 1 — demand for silver coins and bars has increased in Europe and the US.