Commodities

Silver loses ground, dollar off 7-week high

2018-10-11 08:51:40 GMT (Economies.com)

Silver futures tilted lower in Asian trade even as the dollar index lost ground away from August 20 highs, ahead of US inflation data later today while markets await the G20 summit in Bali, expected to include discussions on global growth and trade. 

 

As of 05:04 GMT, silver futures due in December dipped 0.18% to $14.30 an ounce, while the dollar index dropped 0.31% to 95.21, marking October 1 lows. 

 

Markets have been roiled as US stock indices slumped over 3% yesterday, marking the worst performance in eight months. 

 

Now investors await US consumer prices data, expected with a 0.2% increase, while analysts expect a 2.4% yearly increase, slowing down from 2.7% in August. 

 

Core prices are estimated with a 0.2% increase, up from 0.1% in August, while analysts expect a 2.3% yearly increase, up from 2.2%, as unemployment claims are estimated to have increased 3 thousand last week to 210K. 

 

In a Pennsylvania rally, US President Trump said the Federal Reserve has gone "crazy" with its latest rate hikes, while noting that stocks are undergoing a normal correction after a succession of record highs. 

More News

Risk Disclaimer : MetaPlace Limited would like to remind you that the data provided in this site is not necessarily in real time or accurate. All stock prices, indices, futures and foreign exchange rates are not provided by exchanges but by market makers, so prices may not be accurate, may differ from the price of the actual market, which means that the quotes represent an indication and are not suitable for commercial purposes. Therefore MetaPlace Limited does not assume any responsibility for any business losses that may be incurred as a result of the use of this data.