Silver Rises to $20.60 an Ounce on Global Issues

- July 29th, 2014

This morning, silver rose 0.2 percent, or $0.04, to trade at $20.60 per ounce. It’s being influenced by conflict between Israel and Palestine and in Eastern Ukraine, as well as positive US data.

This morning, silver rose 0.2 percent, or $0.04, to trade at $20.60 per ounce, according to Reuters.

The news outlet notes that the conflict between Israel and Palestine has now lasted three weeks and has no foreseeable end. Meanwhile, fighting in Eastern Ukraine, has caused the death of at least 19 civilians, according to local officials. These events are causing investors to seek out safe-haven investment like precious metals.

On the flip side, US data is generally positive and the dollar has shown sustained strength, capping the rise of precious metals to a certain extent.

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