Silver hits four-month high as dollar deepens losses

Silver futures rose to the highest since late August in American trade as the dollar index plumbed September 20 lows, following a basket of data from the US, the world's largest economy.

As of 08:21 GMT, silver futures due on March 15 rose 0.47% to $17.225 an ounce from the opening of $17.145, while the dollar index dipped 0.37% to 91.90 from the opening of 92.24. 

The final US manufacturing PMI marked the fastest expanding rate since March, up to 55.1 from 53.9 in November, while beating expectations of 55.0. 

China's manufacturing PMI shrank mildly to 51.6 in December from 51.8 in November, while the services PMI widened to 55.0 from 54.8. 

Earlier this week, North Korea leader Kim Jong Un said the nuclear button to destroy the US in on his desk in case any threats were launched against his country, adding that his country will focus this year on producing a large amount of nuclear heads and ballistic missiles. 

President Donald Trump countered that sanctions have had a noticeable impact on the seclusive country, tweeting that soldiers are fleeing North Korea and mocking it as a step by North Korea to start talks with the South. 

Silver futures on their longest winning streak since August 2015, after marking a yearly profit in 2017 for the second year in a row, with a 6.3% profit, in contrast to the dollar that fell 10.2% last year, recording the worst performance since 2003.  

Last month, President Donald Trump singed into law the $1.5 trillion tax reform bill, which cuts the corporate tax rate from 35% to 21%, while also signing a government spending bill to prevent a government shutdown.