Strong Dollar and Data Push Silver Down to $19.24 per Ounce

Early in trading today, silver hit $19.24 per ounce, its lowest price since February 4, according to Reuters. Later, it rose to $19.31 an ounce, down 3.1 percent, or $0.60, from the previous day’s trading session.

A strong dollar and better-than-expected US retail sales data are making equities more appealing to investors than precious metals. Further, data showing that US consumer prices rose in March is creating optimism about the state of growth in the US, also depressing silver’s price. In addition, physical demand for precious metals is quite low, according to the news source.