Silver closes higher on weak dollar and stocks sell-off

Silver futures closed higher on Wednesday, as the US dollar fell against its peers, amid a huge sell-off in stock markets following the release of mixed economic data.

Data showed today that the US durable goods orders index rose 1.3% last month, beating forecasts of 1%.

The initial unemployment claims reading rose to 778,000 last week, worse than forecasts, while the second reading of the GDP showed growth by 33.1% during the third quarter.

The dollar index fell against a basket of major currencies by 0.3% to 91.9 points as of 22:03 GMT, after hitting a high of 92.2 points and a low of 91.9 points.

Silver December futures rose 0.3% or 6.2 cents, and closed at $23.362 an ounce, after losing 1.4% yesterday, with today's high at $23.545, and the low at $23.115.