Silver Rises to $16.29 per Ounce

On Tuesday, silver gained 1.18 percent, or $0.19, to trade at $16.29 per ounce, according to Reuters.

The decline of the US dollar against other currencies means the white metal is more affordable for investors who hold currencies that are not the dollar. That, combined with silver’s appeal at the current low prices, may be the reason for the metal’s rise.