Silver News

Silver Posts Impressive Price Gains in July
August 04, 2003

(Washington, D.C. - August 4, 2003) On July 28th, the silver price closed on the COMEX at $5.19 per ounce, the highest spot price recorded since February 2000. The notable price increase reflects a positive swing toward the investment side of the versatile metal, as increased investment demand continues to play a role in the silver market.

The silver price has risen an impressive 82-cents since early April, from $4.37 per ounce to the $5.19 close on July 28. This reflects an 18.7 percent increase for the past three-month period. For July of this year, the COMEX silver price averaged $4.84 per ounce. Overall in 2003, the COMEX silver price has averaged $4.65 per ounce.

"We are certainly seeing price volatility in the market, and it's trending upward, which is a welcome event for silver investors," said Paul Bateman, Executive Director of the Washington, D.C.-based Silver Institute.

Silver also enjoys the dual role of an important industrial as well an investment metal. Silver's role in photography, numerous industrial applications, silverware and jewelry, and medicine, is expected to rise as the U.S. economy continues to rebound. For more information on silver, please contact the Silver Institute at www.silverinstitute.org.

The Silver Institute is a nonprofit international industry association headquartered in Washington, D.C. Established in 1971, the Institute serves as the industry's voice in increasing public understanding of the value and many uses of silver.

For Further Information Contact:

Mike DiRienzo
The Silver Institute
1200 G Street, N.W., Suite 800
Washington, D.C. 20005
Tel: (202) 835-0185
Fax: (202) 835-0155