Silver Rises to $20.97 per Ounce on Tensions in Ukraine, Middle East

Silver rose 0.4 percent or $0.08 to $20.97 an ounce on Wednesday, according to Reuters.

Geopolitical tension in Ukraine and the Middle East continues to linger, encouraging investors to hedge their risk in precious metals rather than equities. At the same time, positive U.S. economic data has been bolstering the dollar and stocks, putting a cap on just how far precious metals prices will rise. European stocks rose on Wednesday as well, further pressing down precious metals prices.

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