Silver Prices Continue to Fall as Dollar Strengthens
Silver fell throughout the second half of last week from a high of 18.813 to a low of 17.810 on Friday. It opened this week by falling further, immediately dropping to 17.413 but has since recovered to around the 17.860 level.
Silver prices have been falling as expectations grow for an increase in US interest rates and the Federal Reserve indicated that its bond buying program will end next month. Silver costs money to store and will not produce as much ROI when interest rates are on the rise. Furthermore, with the dollar gaining in strength it makes silver far more expensive for those who hold other currencies.
Nonetheless, the US intervention in Syria has raised prices slightly as investors look towards safe haven investments. Nonetheless, it is unlikely that silver will return to its previous prices in the near future.