Silver strives to recover lost ground

Economies.com
2017-05-08 17:42PM UTC

Silver prices attempted to rise today after hitting a four-month trough last week, but dollar's advance heaped pressure on the white metal and cut recovery chances. 

 

Silver last traded at $16.26 an ounce, up from the opening of $16.22, with an intraday high at $16.42, and a low at $16.20. 

 

Centrist Emanuel Macron's win in the French presidential election buoyed market confidence and nudged the euro lower on profit-taking, but demand stayed weak on silver due to dollar's strength. 

 

Otherwise, traders are still driving silver prices lower, with gold prices losing ground as well, hurting all safe havens. 

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