Silver futures jump one percent for second session

Economies.com
2017-07-11 17:10PM UTC

Silver futures rose nearly one percent in American trade away from the lowest since February 3, 2016 for the third consecutive session, following earlier data from the US, the world's largest economy. 

 

As of 06:05 GMT, silver futures due on September 15 rose 0.77% to $15.750 an ounce from the opening of $15.640, while the dollar index rose 0.15% to 95.88 from the opening of 96.02. 

 

Earlier US data showed an unexpected drop in the JOLTS job openings survey in May, while last week, data showed the economy created 222 thousand new jobs last month, while the unemployment rate rose to 4.4%, as average hourly earnings accelerated below expectations.

 

On another note, markets await Brainard's speech, while Fed Chair Janet Yellen is scheduled to testify about monetary policy tomorrow ahead of the House of Representatives Financial Services Committee, and on Thursday ahead of the Senate Banking Committee in Washington. 

 

Silver futures are rising this week after marking the fourth weekly loss in five, as prices hit 17-month lows last week after global central bank governors hinted at possible tightening of monetary policies later this year. 

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