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.