Silver Rises on News of Possible Test Vote on Debt Ceiling

Silver prices were down early today as the US government shutdown dragged on and investors remained cautious, Bloomberg reported. However, later in the session, the metal’s price increased after Senate Democrats announced a possible test vote on the debt ceiling by the end of the week.

Silver futures for December delivery gained $0.07, rising to $22.45 an ounce on the COMEX in New York, according to the source.

The Fed is expected to release its minutes from the Federal Open Market Committee meeting tomorrow, Kitco News reported. The report will be closely scrutinized by the marketplace as investors look for clues on the future of the central bank’s stimulus program.