Silver loiters near six-week low

Silver prices wavered on Monday at the start of the weekend, as the dollar dithered against a basket of currencies, amid a lack of direction as markets await the Federal Reserve's meeting this week.
 
Silver last traded at $16.96 an ounce, compared to the opening of $16.98, with an intraday high at $17.13, and a low a $16.92.
 
The dollar wavered today as investors await the Fed's interest rate decisions, underpinning commodities today, but silver failed to recover due to profit-taking pressure after hitting several highs recently.
 
Silver was largely flat today after plumbing a six-week trough last week amid expectations of a Fed rate hike next week, luring investments away from the commodity market to the banks.
 
The dollar index, tracking the greenback versus an array of six major peers, rose to 101.27 from the opening of 101.29, with a session-high at 101.04, and a low at 101.38.