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Commodities

Silver prices soften on tumbling demand in COVID-hit China

Industrial production slows in the world's largest consumer

Industrial demand for silver has been hit by China's economic slowdown.   © Reuters

TOKYO -- The price of silver has softened as industrial demand fell in China due to the country's rigid pandemic restrictions, with benchmark contracts touching a two-year low in recent weeks.

In New York, benchmark futures for silver ended at $18.23 per troy ounce on July 14, the lowest level since July 2020, with the price dipping as low as $18.01 at one point that day.

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