Silver attempts to recover from 2-week low

2019-09-11 12:41:40 GMT (Economies.com)
Silver attempts to recover from 2-week low

Silver rose in the European market today, to mark the first rise in 5 days, in its attempts to recover from 2-week low it hit yesterday, while dollar's rise against a basket of currencies curbs silver's gains.

 

As of 11:55 GMT, silver prices rose by 0.7% to $18.10 an ounce, from the opening of $17.98, with a high of $18.24, and a low of $17.97.

 

Yesterday, gold silver lower by 0.1%, its fourth daily loss in a row, as it slumped to a 2-week low of $17.77 an ounce.

 

During last Wednesday, silver hit a 3-year high of $19.64, which was followed by increased profit-taking that pushed it lower by about 8% in less than a week.

 

Besides profit-taking and correction since last Wednesday, silver fell also due to low heaven demand as risk appetite improved

 

The dollar index rose by 0.3% today against a basket of currencies, extending its gains for the second straight day to 1-week high of 98.66 points, which doesn't favor most metals and commodities denominated in dollars.

 

Dollar drew support from the 10-year US Treasury yield rising, as market risk appetite improved and recession fears in the US eased.

 
 
 
  Symbol Last Change Chg.%
1.1015
-0.0020
0.1853%
1.3049
-0.0033
0.2534%
Tadawul
8178.47
-148.50
1.78%
18.085
-0.019
0.105%
53.135
-1.137
2.096%
59.20
-1.43
2.36%
1579.490
8.860
0.564%
 
 
Live Forex Updates