The recent sell off in silver continued during Asian trading as investors unwound their long positions. Following Fridays 3.5% price drop silver now trades at a four year low af £10.84 per ounce. Traders began to liquidate their position as the U.S. dollar began to strengthen against a basket of major currencies. Comments from the Federal Reserve suggesting they are prepared to increase interest rates sooner than expected also weighed heavy on the price.
Unsurprisingly the gold, platinum and palladium price also fell on the news. Gold is currently trading at £744.12 per ounce, silver £10.86 per ounce, platinum £815.24 per ounce and palladium £494.63 per ounce.