Silver Rallies On German Bailout Decision

Business Insider reported the rise in the price of silver, trading at $33.94 an ounce, up almost 1.5% on after the announcement that Germany’s top court ruled that Germany can ratify the €500 billion ESM bailout fund but with strict conditions.

Gold ticked slightly higher after the German decision – rising from just under €1,350/oz to €1,354/oz prior to gradually giving up those gains. Equities have seen tentative gains but silver is the largest beneficiary so far – having briefly risen above $34/oz or 1.5%