Silver prices slide for first time in seven sessions

Silver prices fell over one percent in American trade as the dollar index climbed off a six-month low according to their inverse relation, following earlier data from the world's largest economy. 

Silver futures due on July 15 fell 1.48% to $16.66 an ounce from the opening of $16.91, while the dollar index rose 0.04% to 97.62 from the opening of 97.49. 

Otherwise, U.S. unemployment claims fell to a three-month low while the Philly manufacturing index rose to its highest since February, as U.S. treasury secretary testified ahead of the Senate Banking Committee to talk about the rollback of Dodd-Frank. 

That paved the way for profit-taking on the white metal after hitting its highest this month, as chances fade of a Federal Reserve rate hike in June, while scandals hit the White House after reports of Trump's intervention in a Federal investigation.