Silver has had a rough few weeks, with most attention falling on the imminent closure of the London silver fix. This week, however, the white metal was able to make some gains.
Monday began auspiciously, with silver trading between $18.97 and $19.19 per ounce, nearing two-week highs, according to BullionVault. That good fortune continued on Tuesday and Wednesday, during which time the precious metal was for the most part able to hold comfortably around $19.20.
Midway through Thursday morning, silver started climbing, quickly reaching $19.55. Kitco’s Jim Wyckoff suggests that the upward momentum could have been spurred by investors selling platinum and palladium and turning to gold and silver, though he cautioned that “[t]he silver bears still have the overall near-term technical advantage.”
Silver ultimately closed at $19.53 per ounce.
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