Commodities

Silver jumps more than 4% as dollar falls

2020-03-25 20:26:34 GMT (Economies.com)

Silver rose on Wednesday, to march on the opposite direction of gold, as it drew support from the US dollar's drop against its peers.

 

Silver futures jumped 7.5% yesterday, to extend the strong gains as investors anticipate the huge $2 trillion US stimulus aid package.

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The $2 trillion is the largest aid package in the US history, as the White House allocated it to ease the coronavirus economic impact, which will include sending money directly to citizens, in addition to providing US companies with neccasey support.

 

The dollar index fell 1% to trade at 101.02 points as of 19:44 GMT, with a high of 101.9 and a low of 100.9.

 

Silver May futures rose 4.3% to settle at $14.873 an ounce, after hitting a day high of $14.93 and a low of $14.05.

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