Silver closes flat, shrugs off weaker dollar

Silver steadied today despite dollar drop against most major currencies, to recover its earlier losses hit in the previous session.

The ECB decided on a rate cut to -0.5% launched a bond-buying program worth 20 billion euros per month (about $22 billion) in its efforts to stimulate the European economy growth.

The central bank aims at these measures to support the growth of the economy in the euro area and to face the continued weakness of the rate of inflation, according to the statements of its President, "Mario Draghi."

The Bank's Chairman, Mario Draghi, said that the new quantitative easing program and the rate cut are to stimulate the economic growth, in response to the continued weak inflation.

Ahead of the US Federal Reserve meeting on next Wednesday as US President Trump demanded the bank to cut interest rates to zero or below.

By 18:19 GMT, dollar fell by 0.3% to 98.3 points, with a high of 99.1 and a low of 98.1.

Silver futures (December delivery) stabilized at $18.177 an ounce, gaining less than 0.1%, with a high of $18.555 and a low of $18.085.