Spot Silver, Silver Futures Sink to Lowest Levels Since Mid-August

Silver prices declined today, following gold. Specifically, spot silver fell 0.4 percent, to $21.17 per ounce; earlier in the day, it hit $20.48, its lowest price since August 9, as per Reuters.

Silver for December delivery also sank to its lowest level since August 9, hitting $20.495 an ounce, Bloomberg reported.

US lawmakers said a budget deal could be reached later today, Reuters also reported. If debt talks reach a conclusion and the economy improves, the US deficit could shrink, impacting precious metals prices.