|
Resurgent dollar pushes silver lower
Silver prices rose on Tuesday, as the US dollar rose against most of its major rivals, and after the release of upbeat economic data.
Data showed that the US consumer price index rose by 0.9% in June, the largest monthly rise since 2008, higher than forecasts of 0.5%, and the y/y reading showed a rise by 5.4%.
The core reading (excluding food and fuel prices) rose by 0.9%, higher than forecasts of 0.4%.
The dollar index rose against a basket of major currencies by 0.5% to 92.7 points as of 21:16 GMT, after hitting a high of 92.7 points and a low of 92.1 points.
Silver spot prices fell 0.7% to $26.06 an ounce as of 21:16 GMT, after hitting a day high of $26.44 and a low of $26.0.
Thanks for your feedback.
US stocks close lower after inflation data
The major US stock fell on Tuesday, after the release of the US inflation data sparked concerns in the market.
MoreOil extends gains, US crude jumps above $75 ahead of inventories data
Oil prices rose on Tuesday, as the US dollar rose against most major currencies, and extended gains ahead of the release of US inventories data.
MoreDollar extends gains after US inflation data
The US dollar jumped against most of its major rivals on Tuesday, after the release of several corporate business results and upbeat economic data.
More