Bloomberg reported that earlier today, silver futures for September delivery rose to $23.19, their highest price since May 22, later settling at $22.935 per ounce on the COMEX in New York.
As quoted in the market news:
‘We are seeing money flow into precious metals from stocks today,’ Frank McGhee, the head dealer at Integrated Brokerage Services LLC in Chicago, said in a telephone interview. ‘The weakness in the dollar is also a big support.’
Silver futures for September delivery advanced 5.3 percent to settle at $22.935 an ounce at 1:49 p.m. on the Comex in New York, the biggest jump since July 22. Earlier, prices rose to $23.19, the highest since May 22. Trading was 72 percent higher than the average in the past 100 days, data compiled by Bloomberg show.