Silver Rises to $19.62 an Ounce After Stock Market Sell Off

This morning, silver rose 0.9 percent, or $0.18, to $19.62 per ounce, according to Reuters. Recent stock market instability, including massive sell offs, has driven investors to look to precious metals as a safe haven.

“The market is sitting tight ahead of the U.S. jobs report on Friday and today’s ADP’s private sector employment survey,” an Andrey Kryuchenokov, analyst at VTB Capital, told Reuters. “Physical buyers are absent owing to holidays in China, and there’s a bit of a seasonal lull, while investors remain skeptical.”