Silver prices strengthened on Friday (July 24th). The precious metal traded at US$58.40 per troy ounce.

This price rose 1.98% compared to Thursday's US$57.27 per troy ounce.

This increase indicates a short-term recovery after the previous pressure.

Despite today's strengthening, silver's performance for

Despite today's strengthening, silver's performance for the year remains in negative territory.

Since the beginning of the year, silver prices have fallen 17.84%.

The daily gain opens up the opportunity for further recovery, but silver's movement still needs to offset the sharp decline that has occurred since the beginning of the year. (arl)