Yellen Comments Push Silver to $20.25 an Ounce

Feb. 12, 2014 03:15AM PST

Today, silver rose 0.1 percent, or $0.02, to $20.25 an ounce. Analysts attribute the moderate rise to statements made by new Federal Reserve Chair Janet Yellen on Tuesday.

Today, silver rose 0.1 percent, or $0.02, to $20.25 an ounce, according to Reuters. Analysts attribute the moderate rise to statements made by new Federal Reserve Chair Janet Yellen on Tuesday — she implied that the United States is economically prosperous despite a weak jobs report.

“Hints from the Fed Chairwoman yesterday, which were broadly in line with expectations, confirm that the status quo remains intact and as such, nothing has really changed for gold from a macro perspective,” the news outlet quotes UBS as saying in a note.