Silver closes higher as dollar slips

Silver prices rose during the day amid a slight decline of the dollar against most of the major currencies, as markets follow the extent of the US President Trump's decision.

Markets are concerned about a return in geopolitical tensions over Iran's nuclear program after the United States re-enforced sanctions against Tehran.

The Trump Administration announced today the suspension of waivers for Iranian oil importers, which means further pressure on Tehran's oil exports.

Some investors turned to precious metals such as gold and silver today to shelter against these political risks.

In light of this, by 19:06 GMT, the dollar index (against a number of major currencies) fell by 0.1% to 97.2 points, reaching a high of 97.4 points and a low of 97.2 points.

At the close of the session, silver futures (May delivery) rose 0.1%, or 1.5 cents, to close at $14.97 an ounce. with the highest at $15.04 and the lowest at $14.945.