Silver Lifted to $20.90 an Ounce on Global Concerns

This morning, silver rose 0.48 percent, or $0.10, to trade at $20.90, according to Reuters. Investors are seeking a safe option for their capital due to concern about weak Chinese economic data and the ongoing crisis in the Ukraine, and precious metals fit that requirement.

“We will be trading sideways for a while as Ukraine tensions remain high and these renewed China fears are making people nervous,” a Singapore-based trader told the news outlet. “Markets are now looking at the Fed. It remains to be seen if the weather will have an impact on the Fed’s stimulus outlook.”