Silver gains ground in American trade

Silver futures tilted higher today even as the dollar index pulled away from an eleven-month trough, following earlier data from the US, the world's largest economy. 

As of 05:43 GMT, silver futures due on September 15 rose 0.07% to $16.280 an ounce from the opening of $16.265, while the dollar index climbed 0.16% to 94.76 from the opening of 94.60. 

Earlier US data showed building permits and building starts rose past expectations in June, sending the dollar higher on short-covering away from an eleven-month nadir, as chances of a third Federal Reserve rate hike this year wane considerably. 

Otherwise, silver is holding its feet as markets' doubts resurface about Republican President Trump Donald's ability to carry out his economic agenda after two new members from the Republican camp announced their opposition to the new healthcare law being discussed in Congress. 

Some Congress members said they will vote to repeal Obamacare as an initial measure and let the replacing part later, which would be another legislative test for Trump, after failing to pass the previous healthcare bill in what was then a blow to his nascent presidency, pushing investors towards safe havens such as silver.