Silver Sinks to $18.88 per Ounce

As the US Federal Reserve becomes more likely to reduce stimulus measures, commodities are continuing to decline. Spot silver prices fell $0.66 to hit $18.88 an ounce today.

Silver futures for September delivery dropped $0.769, to $18.745 an ounce, in New York after falling as low as $18.385, the metal’s lowest price since August 25, 2010, according to Bloomberg.

This 34-percent second-quarter drop is setting silver prices up for their worst quarter since early 1980 and makes the metal the worst performer of the year, as per Standard & Poor’s.