Silver closes 2% higher
Silver prices rose on Tuesday, as the US dollar fell against most of its peers following the US Treasury bond yields retreat.
The International Monetary Fund revealed its projections for the global GDP, which is expected to grow by 6%, thanks to the recovery from the Covid-19 pandemic and the lockdown restrictions.
The IMF added that it expects US GDP to grow by 6.4% in 2021 compared to its previous estimates.
Otherwise, the 10-year US Treasury bond yields fell 1.3% today to 1.665%.
US President Joe Biden revealed recently a massive plan to spend nearly $2 trillion on infrastructure.
The dollar index fell against a basket of currencies by 0.2% to 92.4 points as of 19:35 GMT, after it hit a high of 92.7 points and a low of 92.5 points.
Silver May futures rose 1.8%, and closed at $25.23 an ounce.
US stocks pare gains, close lower
US stock indices closed lower on Tuesday, and pared their early gains and record highs.
Wall Street was weighed down by profit taking after hitting record highs over the past few sessions.
The International Monetary Fund revealed its projections for the global GDP, which is expected to grow by 6%, thanks to the recovery from the Covid-19 pandemic and the lockdown restrictions.
The IMF added that it expects US GDP to grow by 6.4% in 2021 compared to its previous estimates.
Otherwise, the 10-year US Treasury bond yields fell 1.3% today to 1.665%.
To the oil market, WTI crude April futures rose 1.2% or 68 cents, to close at $ 59.33 a barrel, after hitting a high of $60.9 and a low of $58.6.
Brent May futures rose 0.9% or 59 cents, and closed at $62.74 a barrel, after hitting a high of $64.2 and a low of $62.1.
As for stocks, Dow Jones fell 0.3% or 97 points, and closed at 33,430, with a day high of 33,544, and a low of 33,380.
Nasdaq fell less than 0.1% or 7 points to 13,698, with a high of 13,776 and a low of 13,574 points.
S&P 500 fell 0.1% or 4 points to 4,073, after hitting a high of 4,086 and a low of 4,068.
Dollar falls as bond yields pull back
The US dollar fell against most of its peers on Tuesday, as the US Treasury bond yields retreated.
The International Monetary Fund revealed its projections for the global GDP, which is expected to grow by 6%, thanks to the recovery from the Covid-19 pandemic and the lockdown restrictions.
The IMF added that it expects US GDP to grow by 6.4% in 2021 compared to its previous estimates.
The IMF urged the US Fed for more transparency in its monetary policy, economic estimates and the decisions taken.
Otherwise, the 10-year US Treasury bond yields fell 1.3% today to 1.665%.
US President Joe Biden revealed recently a massive plan to spend nearly $2 trillion on infrastructure.
The dollar index fell against a basket of currencies by 0.2% to 92.4 points as of 17:01 GMT, after it hit a high of 92.7 points and a low of 92.5 points.
Oil keeps gains ahead of API inventories data
Oil prices rose on Tuesday, as the US dollar fell against most of its peers, and ahead of the US inventories data.
The American Petroleum Institute will release its preliminary report on the US crude inventories, amid the US Energy Information Administration will release the official data on Wednesday.
The dollar index fell against a basket of currencies by 0.1% to 92.5 points as of 16:12 GMT, after it hit a high of 92.7 points and a low of 92.5 points.
The markets absorbed OPEC-Plus coalition decision to gradually increase oil production between May and July, and Saudi Arabia stated that it would also ease its 1 million bpd voluntary cut, and its production will increase gradually.
As of 16:13 GMT, WTI crude April futures rose 2% to $59.8 a barrel, after hitting a high of $60.9 and a low of $58.6.
Brent May futures rose 1.8% to $63.2 a barrel, after hitting a high of $64.2 and a low of $62.1.