Commodities

Silver resumes rebound from two-week low as dollar trades flat

2019-02-12 07:07:03 GMT (Economies.com)

Silver futures climbed off January 28 lows in Asian trade for the third session out of four, as the dollar index traded mostly flat, amid a lack of US data today while investors await US-China trade talks. 

 

As of 04:58 GMT, silver futures due in March rose 0.16% to $15.72 an ounce, while the dollar index edged up 0.02% to 97.08, carrying on modest gains for the ninth session in a row. 

 

Federal Reserve Chair Jerome Powell will deliver a speech titled "Economic Development in High Poverty Rural Communities" at the Hope Enterprise Corporation Rural Policy Forum, in Mississippi, later today, while investors await the second round of US-China trade talks in Beijing later this week. 

 

Now investors await the third round of US-China trade talks, with US treasury secretary Steven Mnuchin and other officials heading to Beijing later this week to resume negotiations. 

 

US President Donald Trump recently said he doesn't intend to meet with Chinese leader Xi Jinping before the early March deadline for their truce, rousing concerns in the markets about returning tariffs if no deal was reached in time. 

 

Former Federal Reserve Chair Janet Yellen surprised the markets by saying the next move by the Fed will probably a rate hike as the global economy slows down and weighs on the US. 

 

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