Silver climbs off four-week low as dollar retreats

Silver futures tilted higher in Asian trade off January 25 lows, as the dollar index fell off December 17 highs, as the US market closes down for a national holiday. 

As of 05:31 GMT, silver futures due in March rose 0.17% to $15.78 an ounce, while the dollar index shed 0.02% to 96.79 off two-month highs. 

Silver continues to benefit from dollar's drop following a spate of weak US data and on weak prospects for US rate hikes in 2019. 

Optimism is rising for US-China trade talks, with both Chinese and US Presidents praising progress in negotiations. 

President Trump said he'd be happy to cancel tariffs if a deal is reached with China, adding his administration is nearer that goal than ever. 

Chinese President Xi Jinping also said the talks will carry on in Washington this week, hoping for an agreement soon before the truce deadline in early March. 

Now investors await the release of the Federal Reserve's January 29-30 policy meeting, at which policymakers held interest rates between 2.25% and 2.50%. 

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.