Silver logs 1.7% weekly gain

Silver prices rose today, on strong haven demand especially on precious metals due to another round of escalation in the US-China trade war.

The Chinese government announced its plan to impose a 10% tariff increase on US imports worth $75 billion, amid expectations of targeting imports of agricultural goods.

And Trump ordered US companies to prepare for an alternative to China and said that US companies should also be prepared to come back home.

While he renewed his attack on the Federal Reserve and China via his Twitter account, as he tweeted "who's our bigger enemy, Jerome Powell or President Xi Jinping?"

Meanwhile, by 19:01 GMT, dollar index fell by 0.5% to 97.5 points, with a high of 98.4 points and a low of 97.5.

At the close of the session, silver futures (September delivery) rose by 2.2% to $17.413 an ounce, and posted a 1.7% weekly gain, with an intraday high of $17.465 and a low of $16.96.