Silver Sinks to $20.37 an Ounce

CHICAGO (July 23)  Silver prices declined $0.16 today, sinking to $20.37 an ounce. Silver futures for September delivery on the COMEX in New York also fell, dropping to $20.36, down $0.15 from the previous session, Reuters reported.

Analysts recently lowered their silver price estimates for this year, noting that along with gold, the white metal will remain weak in 2014.  However, silver did hit an overnight high of $20.75 an ounce.

Like gold, silver prices were boosted earlier today by a weaker dollar. However, as the dollar made gains, silver dropped.