Where the Spot Silver Price Is Headed Now

Jon Economy, Market Commentary, Politics, Precious Metals, Silver

This is a syndicated repost courtesy of Money Morning – We Make Investing Profitable. To view original, click here. Reposted with permission.
The spot silver price is up today (Friday), as precious metals traders await Italy’s referendum on Sunday, or ‘Quitaly.’ Uncertainty and fears of the outcome have investors around the world heading into safe-haven investments.
That’s part of the reason we see silver prices climbing even higher in 2017.
Shortly before noon today (Friday), the spot silver price was up $0.23, or 1.37%, at $16.81 an ounce.
But Italy’s vote this weekend isn’t the only thing moving silver prices today. Precious metal investors are also reacting to the November jobs report.
The U. S. Labor Department reported early this morning that employers added 178,000 workers last month. That was in line with the 180,000 analysts had forecast. The unemployment rate unexpectedly dropped to 4.6% from 4.9%.

This post was published at Wall Street Examiner by Diane Alter ‘ December 2, 2016.