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The white metal has been declining for the past three weeks and is on its worst run since July. Analysts say it could drop as low as $18.23 an ounce, the lowest level since June 28.
Silver futures for March delivery declined today, dropping $0.02, to $20.36 an ounce, on the COMEX in New York, according to Kitco News. Spot silver, on the other hand, rose $0.11, to $20.43 an ounce, Reuters said.
The white metal has been declining for the past three weeks and is on its worst run since July, as per Bloomberg. Analysts say it could drop as low as $18.23 an ounce, its lowest level since June 28.
Currently, investors are waiting to see the minutes from a Federal Reserve meeting; their hope is that the minutes will shed light on the future of the United States’ stimulus program.