Silver closes higher near $25/ounce
Silver futures closed higher on Thursday, as the US dollar fell against most of its peers, while the US Treasury bond yields pulled back.
US President Joe Biden announced yesterday a $2 trillion infrastructure spending plan, to develop electricity grids and other facilities to boost the US economic recovery from the Covid-19 pandemic.
Data showed that the US unemployment claims rose to 719K during the past week, worse than forecasts of 678K.
The US manufacturing PMI jumped to 64.7 points in March, which is the highest level in more than 37 years.
The US Department of Labor will reveal the monthly jobs on Friday, which shows the unemployment rate and wages in the country.
The dollar index fell against a basket of currencies by 0.3% to 92.9 points as of 20:07 GMT, after it hit a high of 93.3 points and a low of 92.8 points.
Silver May futures rose 1.7%, and closed at $24.95 an ounce.
US stocks keep gains, S&P 500 ends above 4,000 for first time ever
US stock indices rose on Thursday, after the reveal of President Joe Biden's infrastructure spending plan, which helped S&P 500 to close above 4,000 points for the first time ever.
US President Joe Biden announced yesterday a $2 trillion infrastructure spending plan, to develop electricity grids and other facilities to boost the US economic recovery from the Covid-19 pandemic.
Data showed that the US unemployment claims rose to 719K during the past week, worse than forecasts of 678K.
The US Department of Labor will reveal the monthly jobs on Friday, which shows the unemployment rate and wages in the country.
To the oil market, WTI crude April futures rose 3.9% or $2.29, and closed at $61.45 a barrel, after hitting a high of $61.4 and a low of $58.8.
Brent May futures rose 3.3% or $2.10, and closed at $64.84 a barrel, after hitting a high of $64.6 and a low of $62.3.
As for stocks, Dow Jones rose 0.5% or 171 points, and closed at 33,153, with a day high of 33,167, and a low of 32,985.
Nasdaq rose 1.7% or 233 points to 13,480, with a high of 13,487 and a low of 13,404.
S&P 500 rose 1.2% or 47 points to 4,019.8, after hitting a high of 4,020 and a low of 3,992.
OPEC+ decides to increase oil output during May and July
The OPEC-Plus coalition decided to gradually increase oil production between May and July to keep pace with the recovery of global demand from the coronavirus pandemic impact.
OPEC+ decided to increase oil production during May, June and July, with the intention that each monthly increase does not exceed half a million barrels per day.
The coalition praised the Saudi voluntary output cut of 1 million barrels per day that started in February and will go until the end of April.