Silver Falls to $19.60 an Ounce

Today, silver futures on the COMEX in New York dipped $0.05, to $19.67 an ounce, Kitco reported. Similarly, spot silver prices were down $0.09, to $19.60 an ounce.

Silver and gold prices were driven down today by strong economic data from the United States and the United Kingdom, Reuters reported. New data from August 5 shows that the US services sector has come back from a three-year low and that British business activity increased in July.

Overall, silver has fallen 35 percent this year as a result of investors losing faith in the metal as a store of value.