Silver Reaches Four-month High of $18.30 per Ounce

Silver hit a four-month high on Wednesday, buoyed by increased demand in the face of fears regarding the global economy, according to iNVEZZ.com. Specifically, some are worried about the International Monetary Fund’s decision to cut forecasts thanks to a gloomier world outlook for the year.

The precious metal rose $0.33, or 1.88 percent, to reach $18.30 per ounce. That means silver was trading at its highest level since September, and represents a 17-percent increase from the beginning of the year.