Silver closes lower, backs off one-year peak

Economies.com
2020-07-09 21:21PM UTC

Silver fell Thursday, as the US dollar rose against most majors, despite the fears over the coronavirus crisis in most parts of the world.

 

The World Health Organization warned that the virus has not reached it peak yet and it's still spreading at a high rate.

 

Economists fear that the outbreak will lead to reimposing the coronavirus restrictions in some countries, which will further damage their economies.

 

The dollar index rose against a basket of currencies by 0.3% to 96.7 points as of 21:09 GMT, after hitting an intraday high of 96.8 a low of 96.2.

 

Silver September futures fell 1% or 20 cents to close at $18.962 an ounce, after closing above the $19 barrier yesterday for the first time since September 2019, with a day high of $19,445 and a low $18.83.

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