Forex

Silver rebounds from 2-week low as dollar falls

2021-02-19 12:19:52 GMT (Economies.com)

Silver prices edged higher on Friday, to rebound from the 2-week low that was hit earlier, while the US dollar against its peers.

 

Silver prices rose 0.5% to $27.18 an ounce, after opening at $27.04, and hit a session-low and the lowest since February 4 at $26.07.

 

The precious metal fell 1.25% yesterday, and posted the second daily loss in 3 days due to weak safe haven demand.

 

The dollar index fell more than 0.4% today, to deepen its losses for the second day, which lifts the prices of dollar-denominated metals.

 

The US dollar fell due to weak demand, after strong data in Europe and Britain raised optimism about the global economic recovery.

 

Silver prices lost around 1% so far this week, to head for the second weekly loss in 3 weeks, as the yield of the 10-year US Treasury bonds jumped to nearly a 1-year high.

More News

Risk Disclaimer : Enzious 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 Enzious Limited does not assume any responsibility for any business losses that may be incurred as a result of the use of this data.