Silver closes higher by 1.2% on increased demand

Silver prices rose today as dollar fell against most major currencies, in addition to haven demand on silver returning to increase again.

Markets' uncertainty about the US recession is mounting due to signs of the yield curve inversion.

While President Trump said that his administration is considering lowering the income tax to support the US economy growth while calling again on the Federal Reserve to cut interest rates.

Trump said that if the US Federal Reserve knew about its decisions and policies impact, the economy would have grown exponentially.

By 18:41 GMT, dollar index fell by 0.2% to 98.03 points, with an intraday high of 98.3 and a low of 97.9.

Silver futures (September delivery) rose by 1.2% to close at $17.148 an ounce, after falling by 1.1% yesterday, with a high of $17.17 and a low of $16.83.