Silver Falls to $20.74 per Ounce Following Government Shutdown

- October 1st, 2013

Silver moved similarly to gold today, falling $0.87, to $20.74 an ounce.

Silver moved similarly to gold today, falling $0.87, to $20.74 an ounce, Reuters reported.

The US government shutdown failed to spur metal prices upward today. The last time the government shut down, from 1995 to 1996, the move caused gold prices to gain about 3 percent, Reuters notes. However, this time around investors were anticipating the shutdown, which will likely not last long.

However, if the government fails to come to an agreement on the federal budget and does not raise the debt ceiling by mid-month, the country could face insolvency, which would seriously push up metal prices, Reuters reported.

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