Silver price reaches fresh 14-month low
Thursday, 18 September 2014
The price of silver for December delivery has reached a new 14-month low after trading at $18.53 per ounce as of 09:20 BST today, down 19 cents from yesterday’s close and below the 14-month low of $18.57 reached last Thursday. Spot silver sank one percent yesterday to $18.54, after the Federal Open Market Committee came out with a more hawkish stance than previously, and was trading at $18.56 per ounce today. Yesterday the Fed repeated its pledge that rates would remain ultra-low for a ‘considerable time’ after its quantitative easing bond-buying stimulus programme ends. The Fed announced a further $10 billion reduction in its monthly purchases, leaving the strategy on course to end next month, according to invezz.com