News for jewelers, but also for those who plan to buy jewels of a certain caliber: silver is sick. On May 20, the spot price of silver fell below $22 an ounce, its lowest level in more than two years. And this could be just the beginning, according to two Citibank analysts. “After nearly a decade of rising silver prices, we expect the combination of rising supply and slowing demand to continue to keep silver prices under pressure,” the analysts wrote in a report. The collapse of silver follows that of gold. The yellow metal is hovering around $1,340 an ounce. To conclude: if you have silver to sell, beware that it could be worth less tomorrow.
