Silver climbs as dollar tumbles to fresh 11-month low

Silver futures rose in American trade as the dollar index fell to the lowest since August 18, following earlier data from the US, the world's largest energy consumer. 

As of 06:28 GMT, silver futures due on September 15 rose 0.39% to $16.360 an ounce from the opening of $16.250, while the dollar index slid 0.56% to 94.25 from the opening of 94.78.

Earlier US data showed a bigger than expected drop in weekly unemployment claims, while the Philly manufacturing index slid to 19.5 in July from 27.6, missing expectations of 23.4. 

Otherwise, silver futures are drawing support from dollar's weakness as chances of a Federal Reserve rate hike later this year wane considerably, while markets' doubt grow over president Donald Trump's ability to carry out his economic agenda. 

Trump said his administration will follow what comes next regarding the Paris agreement, adding that his former FBI chief James Comey presented a document containing a number of Russia allegations before his inauguration, expressing that he didn't want to open this document, and that investigating his family's money is a wrong thing and a breach of their privacy. 

Trump added that Comey's testimony ahead of the Senate Intelligence Committee was filled was lies, before moving on to the healthcare issue, saying his country doesn't have other choices, asserting the need to repeal and replace "Obamacare", noting the program could be repealed for now and replaced later. 

Trump asserted the voting for the healthcare repeal bill certified by Democrats in past years gives a breathing to discuss another healthcare plan, adding that repealing Obamacare won't destroy the US, and that it's past time he carried out his campaign promises to repeal the program. 

Similarly, some Congress members in the Senate said they'll be vote for repealing Obamacare next week, while noting this bill represents another major legislative test for president Trump after failing to do the same thing earlier in his nascent presidency, which cast doubts about his ability to carry out his tax cuts and deregulation reforms that he pledged.