An article on Forbes.com reported that silver futures moved higher this morning as the Euro strengthened against the US dollar, and an employment report showed improvement in the U.S. jobs picture. Silver spot price was up to nearly $17.40 per Troy ounce around noon today. The high this year was $18.44 on January 11th. Today's price was the highest since silver fell to $17.68 on January 21st and continued downward to bottom at $15.14 on February 8th (Kitco London Fix). Greece's plans to rein in its debt gave strength to the Euro and thus weakened the US Dollar. Furthermore, the ADP jobs report stated the U.S. private-sector employers cut 40,000 less jobs in February than in January. To read the entire article:
Gold Rallies As Dollar Dallies
Greenback falls on Greek belt-tightening, provides boost to metal prices, stocks.
By MarketNewsVideo.com
http://www.forbes.com/2010/03/03/gold-barrick-anglogold-markets-equities-silver-marketnewsvideo.html?partner=email
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