After the U.S. Federal Reserve's announcement last week that it would keep doing Operation Twist, silver prices dropped 4% the following day.
Adding to the white metal's decline was weakening in U.S. manufacturing, a declining Chinese factory sector and worries about the Eurozone.
It wasn't a great week.
Jeffrey Sica, chief investment officer of SICA Wealth Management LLC, said to Reuters, "When you see slowdown in China and in the United States and the debt crisis accelerate in Europe, it leads people to believe that we will have significant depreciation, especially when commodities and precious metals prices have been so tied into the monetary policy."
Since last week's decline, silver prices have been mixed and yesterday (Wednesday) they closed down 0.13% to $26.91.
The markets have a slew of economic data to review and mull over this week along with the two-day European Council meeting that begins Thursday in Brussels.
Despite last week's slump, there's still reason to be investing in silver. Its prices in the first quarter fared better than the other precious metals.
As legendary investor Jim Rogers told a financial advisor summit Wednesday, the likelihood of more central bank action around the world is bullish for silver.
"Governments print money - that's all they know," said Rogers. "So own real assets like silver... and you'll survive."
Rogers said of all the precious metals if he had to buy just one, it would be silver.
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