Silver closes 3.3% lower as precious metals tumble

Silver prices fell with most precious metals today, as investors' risk appetite rebounded in stocks and the US dollar, which dented the safe-haven appeal of precious metals.

Risk assets rebounded today, despite the lingering fears about the Coronavirus outbreak in China and other countries.

The Chinese government revealed that the death toll rose to 106 victims and nearly 5,000 infected cases, but President Xi Jinping stressed his confidence in Beijing's ability to contain the virus.

The US Federal Reserve will unveil its interest rate decision tomorrow, with forecasts for the bank to keep the rate unchanged, and will be followed by a press conference from the Fed's chief Jerome Powell.

The dollar index rose against a basket of currencies by 0.1% to 98.05 points at 21:27 GMT, after hitting a high of 98.1 and a low of 97.9.

Silver futures (due March) shed 3.3% to close at $17.485 an ounce, with a day high of $18.115 and a low of $17.42.