Silver Trades at $17.27 an Ounce on Positive Economic News

The price of silver rose 0.4 percent on Tuesday to trade at $17.27 an ounce amidst concern about low factory activity and consumer spending, according to Reuters.

Simultaneously, silver’s gains were limited by widespread anticipation of a Federal Reserve rate hike. Alongside probable job market improvements, such a hike would likely limit further growth for silver and other precious metals. The US economy remains a critical barometer for precious metals prices, and investors will monitor Friday’s official job numbers closely.