On July 6, in my Q2 precious metals report on Barchart, I highlighted silver’s 5.57% Q2 decline. Silver closed the second quarter at the $22.81 per ounce level, 5.12% under the price at the end of 2022. Meanwhile, the most volatile precious metal that trades on the CME’s COMEX division has been rallying since the late June, and the price action suggests that higher silver prices could be on the horizon over the coming weeks and months. At the $23.70 level on August 3, nearby September COMEX silver futures were 3.9% higher than the Q2 closing level.
Silver’s price action approached the 2023 high
