Silver hovers near closing price

Silver prices wavered on Friday near the closing price as the dollar kept rising against major rivals, weighing on commodities amid higher demand on the greenback. 

Silver last traded at $17.47 an ounce, same as the opening price, with an intraday high at $17.54, and a low at $17.37. 

Dollar's strength versus main currencies, as it set an eight-month high, forced silver down according to their inverse relation, with demand rising on the greenback as a safe haven amid expectations of higher interest rates by the Fe before the year end as other central banks ease policies. 

On the other hand, silver's dip comes amid weak trading from gold prices, which reflects markets' weak demand on commodities and traditional safe havens, specially following the European Central Bank's meeting, at which it indicated an extended period of time for easing policies. 

The dollar index, tracking the greenback's performance against a basket of six major peers, rose to 98.76 from the opening of 98.30, with an intraday low at 98.30, and an eight-month high at 98.77, heading for the fourth weekly profit in a row.