Yesterday, silver sunk to $18.94, its lowest price since July. However, today it recovered, trading up at $19.04 per ounce this morning.
Silver Market News Directory
Mineweb reported that according to media reports, the US Mint is restricting American Eagle silver coin sales for the remainder of 2013 in order to conserve coin blanks for the 2014 Silver Eagle bullion coin program.
Mineweb reported that yesterday, UBS Investment Research lowered its 2014 silver price outlook from $25 per ounce to $20.50 per ounce. For 2015, the firm expects the white metal to average $21, down from its earlier forecast of $24.
Today, silver futures for March delivery fell $0.13, to $19.15 an ounce. Earlier in the session, they fell to $18.98, their lowest level since July 9.
Silver fell $0.39 today, to $19.51 an ounce, its lowest price since August 8.
Reuters reported that Russia's VTB Bank (MCX:VTBR) has started exporting gold and silver bullion to India; the first deliveries have taken place over the past few weeks.
Spot silver rose $0.14 today, to $19.94 per ounce, according to Reuters, while MarketWatch reported that silver futures for March delivery on the COMEX in New York sank $0.07, hitting $19.83 per ounce.
Mineweb reported that all-in cash costs for the silver companies followed by Dundee Capital Markets fell by 13 percent, to $20.08 per ounce, in the third quarter of this year. The firm expects their costs to fall even further in Q4.
So far today silver has dropped $0.35, hitting $19.93 an ounce. Yesterday, the white metal reached $19.54 an ounce, a low not seen since mid-August.
This morning, silver futures for March delivery fell $0.12, to $19.79 an ounce. Meanwhile, spot silver fell to $19.54 an ounce, its lowest level since mid-August.