Silver Expected to Rebound

Silver futures for July delivery traded at $24.11 per troy ounce during European morning trade May 1, down 0.8 percent on the day.

Silver prices traded between $24.06 a troy ounce, the daily low, and a daily high of $24.33 a troy ounce on the COMEX division of the New York Mercantile Exchange, according to Investing.com. Analysts originally predicted that silver prices would be supported at about $23.60 a troy ounce — a low seen on April 26, according to the source.

Reuters reported that spot silver was at $24.21 as of the morning of May 1, a 20-percent decline from last year.