Silver Price Rises to $16.54 on News from Greece

On Wednesday, the silver price climbed to $16.54 an ounce for a 1-percent gain, according to Reuters.

The improvement came as Greek Prime Minister Alexis Tsipras adjusted the team that will participate in debt talks with lenders. The changes were viewed as a sign that Greece is closer to receiving additional financing, and they pushed the euro’s value up relative to the dollar.

Meanwhile, the dollar’s weakness pushed investors toward safe-haven commodities and dampened investor expectations of a Federal Reserve interest rate hike in the near future.