Today Silver news
The weak US dollar that lent support to silver prices yesterday was a nonfactor in today’s trading. Spot silver prices on the day were weak, ending the day down $1.65 to $36.82 per ounce.
Economic concerns continue to weigh heavy on the minds of investors. These concerns center on the debt crisis in Europe and the US. Most analysts agree that the economic recovery is cooling off. Ahead of US economic data set to be released on June 3rd, all signs indicate that the data will be weak. Jobless claims, the hallmark of the economic recovery, increased by 10,000 to 424,000 in the week ended May 21, according to US Labor Department figures.
As QE2 is set to expire at the end of the month the change in monetary policy and the effect on the US dollar, is at the forefront of investors’ minds.
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