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Silver prices may record their worst quarter since early 1980.
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.