Silver advances as dollar flags in American trade

Silver futures rose for the first time in four sessions away from the lowest since December 30, as the dollar index fell for the first time in five sessions, following earlier data from the US, the world's largest economy.

As of 07:09 GMT, silver futures due on September 15 rose 0.56% to $15.985 an ounce from the opening of $15.895, while the dollar index shed 0.50% to 95.81 from the opening of 96.29.

Earlier US data showed the ADP Non-Farm Employment Change with a more than expected drop in June, while unemployment claims rose unexpectedly last week, as the trade deficit shrank less than expected in May.  

Similarly, markets now await other labor data on Friday, with the unemployment rate expected to settle at the lowest since 2001 at 4.3%, while jobs and average earnings are forecast to haven risen in June. 

Services PMI rose unexpectedly last month, which draws its importance from the fact that two thirds of the American GDP depends on services, making it a vital economic marker for all kinds of economic activities like retail, utilities, housing, and healthcare. 

the Federal Reserve will release its Monetary Policy Report on Friday, as the Group of 20 convenes in the same day in Hamburg, after the Federal Reserve released the minutes of the last meeting yesterday, which showed divisions among policymakers regarding the appropriate time to reinvest their debt holdings, with some preferring a two-month timeline, and other wanting to delay normalization to the end of the year.

Silver have tumbled below $16 recently after a host of global central bank governors talked about the possibility of changing monetary policies during the European Central Bank Form on Central Banking in Portugal last week, which was priced in by the markets as hints at policy tightening to come.