Why is silver tanking

Indeed, the dollar index has been rising for the past five consecutive days and is in its highest level since July. A stronger dollar tends to be overall negative not only for silver but for other assets as well. That is because these assets are usually traded in dollars. Just yesterday, the UK confirmed more than 6, new cases, the highest figure in months.

The cases have risen in other countries like Italy and Spain. The implication is that this increase will lead to lower demand for the metal.

That is because, unlike gold, silver is usually an industrial metal. Top News Paytm share allocation likely on Nov 16 at Rs 2, apiece. Delhi's air quality improves slightly, moves to 'very poor' from 'severe'. Mcap of 6 of top valued companies jump more than Rs 1. Northeast - Ambush of Assam Rifles: All you need to know. Kerala weather update: Heavy rainfall batters Kerala, red alert issued in three districts.

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New Ventures. Search Search:. Sep 16, at PM. Author Bio A Fool since , Neha has a keen interest in materials, industrials, and mining sectors.