Silver closes lower, but logs nearly 3% weekly gain

Silver prices fell on Friday, as the US dollar inched higher against most of its peers, despite rising concerns about the coronavirus crisis.

US President Joe Biden ordered mandatory mask wearing in government and federal properties.   

The US manufacturing PMI rose to 59.1 points in December, beating forecasts of 56.6 points.

The US services PMI rose to 57.5 in December, also higher than forecasts of 53.3.

The dollar index rose against a basket of major currencies by 0.1% to 90.2 points as of 21:07 GMT, after hitting a high of 90.3 points and a low of 90.05 points.

Silver March futures fell 1.2% or 30 cents, and closed at $25.556 an ounce, but posted a weekly gain of 2.8%, with today’s high at $26.045, and the low was at $25.050.