Silver declines from three-month high as dollar rebounds

Silver futures fell nearly one percent in American trade away from January 29 highs as the dollar index bounced off March 27 lows for the fourth straight session, amid a lack of data from the US, the world's largest economy. 

As of 07:55 GMT, silver futures due on May 15 fell 0.63% to $17.130 an ounce from the opening of $17.239, while the dollar index rose 0.42% to 90.32 from the opening of 89.94, marking April 6 highs. 

Federal Reserve Bank of San Francisco President John Williams spoke earlier today at a fireside chat hosted by the Fisher Center for Real Estate and Urban Economics, in California, where he pointed to improved labor conditions and growth in wages, while inflation steadies as the Fed continues to tighten monetary policy and hike interest rates gradually. 

Williams, who will take the position of current New York Federal Reserve President William Dudley after his term ends on June 17, expected Fed's budget to reach normal levels near $3 trillion soon. 

10-year US treasury bond yields rose to one-month highs at 2.934% as US-China trade tensions eased, while the US administration partook in direct talks with North Korea to end their nuclear weapons program peacefully.