Silver soars as dollar plunges

Silver prices rose on Monday to a three-week high as the dollar fell against a basket of currencies, underpinning the white metal as haven demand climbs. 

Silver last traded at $18.06 an ounce, up from the opening of $17.84, with a session-high at $18.11, and a low at $17.81. 

Silver's current rise comes amid higher haven demand, with gold advancing as well, as global stocks give up ground following the failure of the U.S. administration to pass a crucial healthcare bill through Congress, casting doubts about its ability to pass other laws such corporate tax cuts and infrastructure spending.

Dollar's fall to a five-month low against a basket of currencies helped the white metal as well as investors look for alternative investments while risk appetite subsidizes. 

The dollar index, tracking the greenback against a basket of rivals, rose to 99.16 from the opening of 99.30, with an intraday high at 99.36, and a low at 98.84.