Commodities

Silver inches higher, scores weekly gains

2020-09-18 21:27:48 GMT (Economies.com)

Silver prices rose slightly on Friday, as the US dollar held steadily against most of its peers, while investors rushed to precious metals after weak economic data and stock market losses.

 

Data showed that the US current account posted a deficit of $171 billion in the second quarter, worse than expectations of $158 billion, while the consumer confidence index rose to 78.9 points this month.

 

The dollar index slipped against a basket of currencies by less than 0.1% to 92.9 points as of 21:49 GMT, after hitting a high of 93.01 and a low of 92.7.

 

Silver December futures rose 0.1% or 3 cents, to close at $27,129 an ounce, and posted 1% weekly gains, after hitting today's high at $27,580 and the low at $26,870.

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