Despite rising in price Wednesday morning, silver futures' gains are viewed with a grain of salt after losing about one-third of their value since late last month.
Many investors consider the volatile metal too risky after the sharp decline, which came just as it was less than $1 from passing two significant milestones on April 29.
At 9:11 a.m. on Wednesday, silver futures rose 2.64 percent, an 0.884 cent climb to $34.375 per troy ounce.
On the final trading day of April, silver futures neared two benchmarks not seen since January 1980. At $49.51 per troy ounce, the precious metal was no more than 0.50 cents from the psychological barrier of $50 per troy ounce and less than $1 from breezing by record prices of $50.35 per troy ounce.
"Silver's attempts to bounce from its recent lows look all but over," Capital Spreads head Simon Denham told MarketWatch in an email.
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