Silver prices climb for fifth day

AP News
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Posted: Aug 14, 2013 4:16 PM

Silver prices are rising for a fifth day as the outlook for global demand improves as the countries that use the euro emerge from recession.

Bargain-hunters are also taking advantage of a recent slump in the price of silver.

September silver rose 44.4 cents, or 2.1 percent, to $21.787 an ounce. The metal has climbed 19 percent since falling as low as $18.40 an ounce on June 27, close to its lowest in almost three years.

Silver is still down 28 percent this year. Investors dumped precious metals and commodities in April on concern that growth in China is slumping.

Corn, wheat and soybeans all rose.

Oil and gasoline barely budged. Crude for September delivery rose 2 cents to $106.85 a barrel on the New York Mercantile Exchange.