Commodities

Silver climbs for second straight day as dollar declines

2021-02-22 13:07:09 GMT (Economies.com)

Silver prices rose in European trade away from two-week lows as the dollar declined against a basket of major rivals, while haven demand improved. 

 

Silver rose 1.1% to $27.69 an ounce, up from $27.39 at the opening. 

 

The white metal marked a 0.9% profit on Friday away from two-week lows at $26.07.

 

Silver lost 0.25% last week, the second weekly loss in three days as US treasury yields surged and haven demand tumbled. 

 

The dollar index declined 0.2% on Monday for the third straight session against a basket of major rivals, bolstering gold and other precious metals. 

 

Dollar's decline comes as rivals across the world rally amid improving economic data, which shows the global economy is recovering faster than expected from the coronavirus pandemic hit. 

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