Spot Silver Falls to $22.69 an Ounce

Spot silver is down $0.227, at $22.69 per ounce, Reuters reported. Silver prices hit a session low today of $22.41, not much more than the $20.84 seen on May 20 — the lowest price for the metal since September 2010.

However, US silver futures are up at $22.67 an ounce, an increase of $0.0839 an ounce, Reuters said.

Escalating tensions in the Middle East, “bargain hunting” and the dollar’s drop against major currencies have boosted silver futures, according to the Financial Post. However, silver has still fallen 25 percent so far this year.