Silver Futures Rise Above $20 an Ounce

Silver futures for September delivery shot up $0.08, to $20.015 an ounce, July 17 after US Federal Chairman Ben Bernanke announced that if the US economy does not improve, the central bank could decide to continue with the program.

Bernanke said that as of now, the bank plans to slow the program, but added that it depends on economic and financial growth in the US. If that fails to improve this year, the bank could continue its current pace of purchases, Kitco reported.

Spot silver prices hit $19.83 an ounce, a decrease of $0.15, today.