Silver Rises to $19.94 an Ounce on International Tension

This morning, silver rose 0.5 percent, or $0.10, to trade at $19.94 an ounce, partially due to disappointing economic data from China and the crisis in Ukraine, Reuters states. Ongoing tension in the Middle East is also boosting the appeal of precious metals.

That said, don’t expect those factors to help the white metal for long. “The geopolitical tensions do have their moments of impact but they just don’t last too long … the euro is in dire straits from an inflation point of view, Germany is slowing, Italy is in recession and that could be where we are getting the inspiration today,” Ole Hansen, senior manager at Saxo Bank, told the news outlet.