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iNVEZZ.com reported that yesterday COMEX silver futures for July delivery hit a three-month high of $20.925 per ounce. The gain came as the US Federal Reserve revealed that interest rates are going to remain close to zero.
iNVEZZ.com reported that yesterday COMEX silver futures for July delivery hit a three-month high of $20.925 per ounce. The gain came as the US Federal Reserve revealed that interest rates are going to remain close to zero.
As quoted in the market news:
Silver futures appreciated more than 4.4 percent an ounce yesterday, their biggest one-day increase in four months, to settle at $20.648. The price was slightly lower today at $20.625 as of 09:06 BST and stands three percent above its 100-day moving average. However, silver’s 14-day relative-strength index has been above the 70 level since Wednesday, which suggests the precious metal may be overbought. The price of silver has advanced 5.7 percent in the year-to-date.