Commodities

Silver closes higher, recovers previous losses

2019-10-08 20:20:49 GMT (Economies.com)

Silver prices rose today to offset some of the previous session's losses, shrugging off the dollar's rise against most major currencies, as hopes about the US-China trade talks ebbed.

 

Most precious metals surged today after the US announced the blacklist of 28 Chinese companies and government agencies over Beijing’s human rights violations and the abuse of Muslim ethnic minorities.

 

The US Department of State also a put visa restrictions on Chinese officials to enter the US due to the abuse of members of Muslim minority groups.

 

Market's experts fear these measures my further escalate the trade dispute between the two sides ahead of the upcoming trade talks round on next Thursday and Friday.

 

As of 19:41 GMT, the dollar index rose by 0.2% to 99.1 points, with a session-high of 99.2 and a low of 98.8 points.

 

Silver futures for December delivery rose by 0.9% to close at $17.70 an ounce after closed lower by 0.5% yesterday, with an intraday high of $17.86 and a low of $17.305.

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