Silver drops 2% to below $16, dollar strengthens
2018-07-11 19:28:31 GMT (Economies.com)
Silver drops 2% to below $16, dollar strengthens

Silver futures fell nearly three percent in American trade to July 2 lows, as the dollar index gained ground for the third straight session, following earlier inflation data from the US and ahead of speeches by Federal Reserve governors later today. 

 

As of 05:29 GMT, silver futures due on September 15 fell 1.63% to $15.83 an ounce from the opening of $16.09, while the dollar index rose 0.55% to 94.67 from the opening of 94.16, marking July 3 highs. 

 

Earlier US data showed producer prices rose 0.3% in June, slowing down from 0.5% in May and beating estimates of 0.2%, while core prices rose 0.3%, same as before and also beating forecasts of 0.2%. 

 

The final reading for wholesale inventories showed a 0.6% increase, up from 0.5% in the preliminary reading, and 0.1% in April. 

 

Federal Reserve Bank of Atlanta President Raphael Bostic is scheduled to speak at the Virginia Society of Certified Public Accountants, while Federal Reserve Bank of New York President John Williams is due to speak about the local economy at a town hall event, in Brooklyn later today. 

 
 
 
  Symbol Last Change Chg.%
1.1659
-0.0034
0.2942%
1.3109
-0.0122
0.9225%
15.571
-0.243
1.540%
67.605
-2.958
4.191%
71.96
0.12
0.17%
1227.700
-13.410
1.081%
 
 
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