Silver Drops to $19.64 per Ounce

Silver slumped $0.32, to $19.64 an ounce, on the COMEX in New York today. Meanwhile, spot silver dropped by $0.29 and is currently sitting at $19.83 after an earlier gain, according to Bloomberg. Silver futures for July delivery also fell, sinking to $19.63 an ounce, a drop of $0.33.

The US Federal Reserve’s recent decision to potentially rein in its stimulus program in the face of a strengthening economy has affected commodity prices across the board, and silver has been no exception. The central bank may begin to rein in its bond-buying program as early as the end of this year, according to Chairman Ben Bernanke.