Silver Price Today: Silver Climbs to $15.99 per Ounce

The silver price climbed 0.3 percent on Wednesday to hit $15.99 an ounce as the dollar dipped 0.3 percent against other leading currencies, according to Reuters. The softer dollar, along with strong US employment data, suggests a rate hike by the US Federal Reserve is likely to occur later in the year.

Investors are timid and waiting for US retail sales data, which will be released on Thursday, for more accurate information pertaining to the strength of the economy. That will likely impact the Fed’s decision.