Silver Dips to $15.65 Per Ounce

Unlike gold, the gains silver experienced on Tuesday were mostly erased on Wednesday.

iNVEZZ.com reported that silver for immediate delivery fell 0.32 percent – nearly 5 cents – to reach $15.65 an ounce. However, this still puts the metal above its recent four-year low of $15.04.

Additionally, the London Bullion Market Association is forecasting a rally for the silver price during this time next year, saying the metal will reach $17 per ounce. This represents an 8.6 percent increase from its current price.

Meanwhile, dips in silver prices have led to renewed demand for American Silver Eagle bullion coins. In fact, the US Mint reported it had run out of the coins last week, and in order to satisfy demand, it would need to keep sales rationed.