Silver price continues to trade near four-year low

The price of silver for immediate delivery has fallen 1.13 per cent to $17.47 as of 09:21 BST, shedding 20 cents of its value as the US dollar continued to strengthen. On Monday, spot silver touched a four-year trough of $17.34 in intraday trading, the lowest since July 2010. Silver for immediate delivery has dropped 13.18 per cent below its 200-day simple moving average of $19.93. The price of December futures has fallen as well, giving up 23 cents. The contract slid 1.3 per cent to $17.46 as of 08:47 BST on the COMEX in New York. The futures fell 0.42 per cent during the last session. Silver bulls’ next upside breakout objective is closing prices above strong technical resistance at last week’s high of $18.885 per ounce. The next downside price breakout objective for the bears is closing prices below solid support at $17.00 per ounce, according to invezz.com