Silver Steady as Economic Recovery Gains Steam
London (Jan 28) Silver was flat today at $19.86 per ounce, according to Reuters. Meanwhile, silver futures for March delivery gained 0.1 percent, or $0.02, to $19.89 per ounce, Bloomberg said.
Investors have backed off of precious metals as the international economic recovery gains steam, increasing the appeal of stock markets over commodities. Further, the global economic outlook is good, which means precious metals look less appealing to investors.
Moving forward, the Federal Reserve may decide to trim its stimulus purchases further at its next meeting, set to take place on January 28 and 29. If it does so, overall interest in precious metals will sink even more, Reuters said.