Silver Prices Fall as Dollar Rises

Last week saw a steady decline in silver prices from opening at 19.303 on Monday to closing at 18.640 on Friday. The last few days have seen the price remain slightly steadier, at one point climbing up to 18.763 but generally hovering around the 18.640 level.

However, it is expected that the dollar will continue to rise in strength over the next few days which will drive the price of silver lower. Many predict that by the end of the week it will break below the 18.50 level and then in the long term continue down towards the 13.80 level.

The Federal Reserve is meeting this Wednesday, if after the meeting it seems that interest rates will be raised sooner than expected then it is very likely that the dollar will continue to gain in strength.