Silver finishes higher, posts modest weekly gain

Silver futures surged on Friday, lifted by strong safe-haven demand due to the lingering fears over the coronavirus outbreak in China and its spread to other countries.

The Chinese government revealed that the death toll rose to 1,400 people, and over 60,000 infected cases, which shows that the virus is not yet contained.

Analysts fear the virus outbreak impact on the world's second largest economy, after disrupting some industrial activities and supply chains, which play a major role in many industries worldwide.

The dollar index held at 99.09 points as of 22:16 GMT, after it hit today's high at 99.1 and the low at 99 points.

Silver March futures rose 0.7% or 11.5 cents to close at $17.734 an ounce, with weekly gains of 0.2%, after hitting a day high of $17.79 and a low of $17.595.