Strong US Dollar Pushing Silver Down Again

Unlike gold, the silver price was on the decline during Wednesday trading, according to a report from iNVEZZ.com. The white metal fell 0.8 percent, or $0.06, to reach $16.37 an ounce. That’s 1.7 percent below its 50-day simple moving average of $16.66.

As in the past, part of the blame for declining silver prices rests with the rallying US dollar. Experts agree that economic recovery in the US is putting more pressure on precious metals, as per iNVEZZ.com. Additionally, lower inflation and decreasing oil prices aren’t helping.