Silver closes lower but notches weekly gain of 1%

Silver prices fell today due to investors shifting from precious metals as safe havens, in addition to demand returning on the stock markets, but sliver posted a weekly gain at the end of the session

Demand increased on silver during this week due to sharp losses in Wall Street, especially on Wednesday as concerns intensified around a near economic recession in the United States.

Due to the US bonds yield curve inversion, which the markets interpreted it as a strong signal of a possible recession.

Otherwise, by 19:24 GMT, dollar index stabilized against a basket of currencies at 98 points, with a high of 98.2 points and a low of 97.9.

Silver prices fell by 0.5% to close at $17.122 an ounce, while posting a weekly gain by 1.1%, with an intraday high of $17.135 and a low of $17.03.