Silver prices inched down on Thursday away from a three-month high hit yesterday as the dollar rebounds against a basket of rivals after U.S. president Donald Trump reiterated his promise to cut corporate taxes.
Silver last traded at $17.70 an ounce, down from the opening price of $17.73, with an intraday high at $17.83, and a low at $17.59.
The dollar returned higher today after a negative start in the Asian session after Trump announced he's on track to cut taxes in the next few weeks, underpinning the dollar and hurting the white metal.
On the other hand, gold reversed lower today, which hurt silver prices as they usually go together, with the white metal going into profit-taking mode after hitting a three-month high earlier this week.