Silver locks in eighth weekly profit in a row

Silver prices surged on Friday, heading for the eighth weekly profit in a row as the dollar slides against a basket of currencies, while demand rallies on safe havens.
 
Silver last traded at $18.36 an ounce, up from the opening of $18.19, with an intraday high at $18.40, and a low at $18.13.
 
Silver's current rise comes as the dollar falls versus main rivals following the bearish Fed's meeting minutes, which cut the chance of a rate hike in the March meeting, nudging the dollar to a one-week low.
 
On  the other hand, demand rose on silver a safe haven due to tensions in the markets about the new U.S. administration's controversial policies, while concerns mount regarding the next French presidential elections.
 
The dollar index, tracking the greenback against an array of rivals, rose to 100.92 from the opening of 100.94, with a session-high at 101.09, and a low at 100.65.