Silver slips after last week's sharp loss

Silver futures closed lower on Monday, after posting 4.5% loss last week, while the US dollar rallied against most of its peers after the US Treasury bond yields rose.

The US House of Representatives will pass the bill later this week, after the US Senate officially approved the $1.9 trillion Covid-19 relief package.

The yield of the 10-year US Treasury bonds rose above 1.6%, which foreshadows more pressure on stocks.

The dollar index rose against a basket of currencies by 0.3% to 92.2 points as of 21:18 GMT, after it hit a high of 92.4 points and a low of 91.8 points.

Silver May futures fell 0.1% or 2 cents, and closed at $25.269 an ounce, with today's high at $25.965 and the low was at $24.970.