Silver futures advance one percent past $17

Silver futures rose over one percent in American trade even as the dollar index gained ground, amid a lack of data from the US, the world's largest economy, and after a speech by Federal Open Market Committee member Patrick Harker. 

As of 08:29 GMT, silver futures due on December 15 gained 1.06% to $17.05 an ounce from the opening of $16.871, while the dollar index added 0.11% to 94.50 from the opening of 94.39. 

Federal Open Market Committee member Patrick Harker said earlier in Tokyo that he expects an interest rate hike in the December 13-14 Fed meeting despite warnings from Fed policymakers regarding softening inflation in the US.  

Harker predicted the Fed to carry on its policy tightening and hike overnight interest rates for a third time this year to between 1.25% and 1.50%, or by 25 basis points, to ready for any future shock, ahead of US inflation data later this week for October, expected to show further softening. 

On another note, Bank of Japan governor Haruhiko Kuroda said in a speech about monetary policy at the University of Zurich that BoJ is taking a strong easing stand on policy, noting there were indicators that Japanese companies are raising wages, while cautioning that the road to a 2% inflation is still long. 

Otherwise, Federal Reserve Chair Janet Yellen, Bank of Japan governor Haruhiko Kuroda, Bank of England Governor Mark Carney, European Central Bank President Mario Draghi, are all due to participate in a panel discussion titled "At the heart of policy: challenges and opportunities of central bank communication" at the Central Bank Communications Conference hosted by the European Central Bank, in Frankfurt.