Silver Rises to $60 for the First Time

SadaNews Economy - The price of silver in spot transactions reached $60 per ounce for the first time ever on Tuesday, driven by market shortages and increased demand for the white metal.

The precious metals markets are cautiously awaiting the results of the U.S. Federal Reserve meeting, as statements from Federal Reserve Chair Jerome Powell may determine the fate of the U.S. dollar in the near term; this directly impacts silver prices since they are valued in U.S. currency. Any weakness in the dollar is likely to support an upward trend for silver.