Silver Plunging 7%

Silver futures have been moving lower for most of today's trading session. Within the hour and a half, the precious metal has moved lower over $1 per ounce. Investors have cut some of their positions in risky assets as worries continue to escalate in Europe. Mostly all asset classes are lower today. The S&P 500 is down about 1.5%, gold is trading about 3% lower, crude oil is down over 3%, and RBOB gasoline is trading over 4% lower on the session. Benzinga spoke to a couple analysts that said the move lower today was just some profit taking as many traders gear towards "risk-off" because of the European debt crisis.