Silver Price Hits $16.78, Solidifying Quarterly Gains

On Wednesday, a dip in the dollar’s value against other currencies propelled the silver price up 1 percent, to $16.78 an ounce, according to Reuters. The dollar’s fall was prompted by preliminary jobs data, which shook investor confidence in the US economy’s continued growth.

Silver was the strongest precious metals performer through the first quarter, and grew 6 percent overall. The next major shift in prices for such metals is likely to coincide with the release of official jobs data later this week.