Silver Stuck in Tight Range Near 10-week Low

iNVEZZ.com reported that today silver has been trading above $19.30 per ounce in a short range of about six cents. That’s close to its lowest level in 10 weeks.

As quoted in the market news:

On the New York Mercantile Exchange (NYMEX), silver futures for September settlement were little changed at $19.38 a troy ounce as of 06:47 BST. They closed 0.15 percent lower on Friday, after dipping to an intraday low of $19.28 – their weakest since June 12. The white metal lost 0.7 percent last week, in what was its sixth consecutive weekly drop and longest losing streak since the six weeks ended April 15, 2013. The current negative run was last surpassed during the eight weeks ended May 29, 1998, in what is currently the precious metal’s worst losing streak as far back as 1963, according to data compiled by iNVEZZ.

Click here to read the full iNVEZZ.com report.