US Dollar Still Weighing on Precious Metals Prices

Aug. 27, 2014 09:43AM PST

Today, silver rose $0.05, reaching $19.39 per ounce. The precious metals market has been somewhat lackluster lately because the strength of the US dollar is bringing down demand for safe-haven investments.

Today, silver rose $0.05, reaching $19.39 per ounce, according to Reuters.

The precious metals market has been somewhat lackluster lately because the strength of the US dollar is bringing down demand for safe-haven investments. The US dollar is at a 13-month peak versus many other currencies.

“The market is still very cautious,” Brian Lan, managing director of Singapore retailer GoldSilver Central, told Reuters. “The physical side is not as good as in the previous month and even last year.”

precious metals market