Oil prices maintained their gains in American trade on track for the ninth daily profit in a row, while heading for the second weekly profit in a row amid cautious optimism that US and China will wrap up a deal to end their trade dispute soon, while OPEC's output fell to two-year lows. 

As of 12:55 GMT, US crude rose to $52.55 a barrel, with the highest since December 13 at $53.29, and a session-low at $52.13. 

Brent rose to $61.45 a barrel, with an intraday low at $61.03, and the highest since December 7 at $62.46. 

US crude rose 0.3% yesterday, while Brent added 0.2%, the eighth profit in a row, the longest such streak of gains since June 2017. 

Oil prices are up 9% this week, heading for the second weekly profit in a row, and the largest since June 2018. 

Following three days on talks in Beijing, US and Chinese officials are reportedly closing in on a new trade deal. 

Reuters reported the steepest decline on OPEC production in December in two years, with Saudi Arabia commencing the deal to cut output before its official start date. 

OPEC pumped 32.68 million bpd in December, down 460 thousand bpd, the largest such monthly decline since January 2017. 

OPEC and independent producers reached an agreement in December to cut global output by 1.2 million bpd starting January, with OPEC taking up 800 thousand bpd of the deal. 

Saudi Arabia alone cut 400 thousand bpd of output in December, and announced to plans for even steeper cuts than agreed upon in the deal. 

Silver prices rose in European trade on Friday after a hiatus from gains yesterday, bolstered by a drop in the dollar today on lower chances of US rate hikes this year. 

As of 11:55 GMT, silver rose over 0.6% to $15.67 an ounce, with an intraday high at $15.73, and a low at $15.56. 

Silver shed 1.1% on Thursday after adding 0.6% ib Wednesday as the dollar dipped.  

The dollar index dipped 0.2% on Friday after pulling up from three-month lows at 94.62 yesterday, with the index resuming its downward spiral against main rivals. 

Dollar is hurt by expectations the Fed might avoid rate hikes this year as the economy slows down, following cautious remarks by several Fed officials. 

Ethereum declined for yet another session on Friday, marking two-week lows and heading for the first weekly loss in a month on growing concerns over the breach at the Ethereum Classic's network. 

At Bitstamp, Ethereum fell $3, or 2.3% to $126, with an intraday high at $128, and the lowest since December 29 at $121. 

Ethereum slumped 15% yesterday, the third loss in four days, and the heftiest since November 19. 

Market value of cryptocurrencies fell a billion dollars on Friday to a total of $121 billion, a December 28 low. 

Ethereum is down a heavy $21 billion this week, heading for the first weekly loss in a month as selling pressures mounted anew on cryptocurrencies. 

The market was rattled again in whole following yet another noticeable crypto hack.

A security breach at the Ethereum Classic's network with a 51% rate on the currency's blockchain resulted in the robbery of one million dollars so far. 

The breach resurfaced concerns that decentralized blockchain networks are still exposed, especially to newer and less valuable cryptocurrencies. 

Dollar fell in European trade on Friday against a basket of major currencies after a hiatus from losses yesterday, nearing three-month lows again under pressure from doubts of US rate hikes in 2019. 

The dollar index fell 0.3% to 94.77 from the opening of 95.03, with an intraday high at 95.08. 

The index rose 0.4% yesterday off three-month lows at 94.62 marked earlier in the session. 

The index lost 1% last week, heading for the fourth weekly loss in a row, the longest such streak since December 2017 as estimates of US rate hikes diminished for 2019. 

Analysts expect a slower pace of US rate hikes in 2019 according to the Fed's meeting minutes. 

The minutes showed several policymakers favor maintaining interest rates unchanged this year, while hinging a hike solely on data. 

Federal Reserve Chair Jerome Powell is scheduled to speak at the Economic Club of Washington DC later today, with investors hoping for more clues on the future of interest rates. 

Now investors await US inflation data for December, which might change perspectives for the pace of US policy tightening this year.