Silver Hits $20.37 an Ounce

July 22, 2013

NEW YORK (July 22) Silver prices rose $0.96, to $20.37 an ounce, on July 22. The increase caused the gold/silver ratio — the amount of silver ounces needed to purchase an ounce of gold — to fall after hitting a high of 66.6 on July 19, Reuters reported.

Friday’s ratio was the highest since August 2010, according to Bloomberg.

Silver futures for September delivery also increased $0.46, to $19.915 an ounce, today on the COMEX in New York.

Like gold, silver was helped today by speculation that the US Federal Reserve will continue its stimulus program. However, a Reuters poll shows that many analysts expect silver prices to stay low in 2014 on anticipation that the central bank will begin to slow its stimulus.

Silver Phoenix Twitter                 Silver Phoenix on Facebook