Silver marches nearly 1% higher for third straight session

Silver futures advanced nearly one percent in American trade, moving farther away from the lowest since February 2016, even as the dollar index gained ground today, following earlier developments from the US, the world's largest economy. 

As of 06:29 GMT, silver futures due on September 15 rose 0.86% to $15.880 an ounce from the opening of $15.810, while the dollar index rose 0.05% to 95.72 from the opening of 95.67. 

Earlier, Federal Reserve Chair Janet Yellen presented the first half of her Congressional testimony about monetary policy ahead of the House of Representatives' Financial Services Committee, where she noted that interest rate hikes on federal money will come gradually, while Yellen is scheduled to complete the second half of her testimony tomorrow ahead of the Senate Banking Committee. 

Silver futures are muscling up this week after marking the fourth weekly loss in five last Friday, while prices hit 17-month lows last week after global central bank governors hinted at possible tightening of monetary policies later this year.