Silver widens gains as gold rallies and dollar skids

Economies.com
2017-03-21 17:59PM UTC

Silver prices kept rising on Tuesday to a one-week high as the dollar tumbled against a basket of currencies, underpinning gold and commodities at large. 

 

Silver last traded at $17.53 an ounce, up from the opening of $17.42, with an intraday high at $17.59, and a low at $17.30. 

 

Silver's rise comes after gold prices climbed to a two-week high while the greenback tumbled to a six-week trough against an array of six major counterparts, underpinning demand on dollar-denominated silver futures. 

 

On the other hand,the G20 meetings on the weekend raised concerns in the financial markets after the final statement dropped the mention of free and open global trade, underpinning demand on gold and silver as safe havens. 

 

The dollar index tracking the greenback versus a basket of six major counterparts, tumbled to 99.70 from the opening of 100.34, with an intraday high at 100.35, and a low at 99.65. 

 

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