Silver closes lower, but posts 5.5% monthly gain

Silver prices fell on Friday, as the US dollar rallied against most of its peers, and silver posted a weekly loss but with a monthly gain.

The US personal income index rose 21.1% in March, while personal spending rose 4.2%.

This week, Apple, Microsoft, Amazon, Facebook and Tesla have all reported strong earnings for the first quarter, while Twitter reported disappointing business results.

Concerns over the coronavirus crisis are still lingering, especially over the situation in India, which suffers rising infections and deaths.

The dollar index rose against a basket of major currencies by 0.7% to 91.2 points as of 20:47 GMT, after hitting a high of 91.3 points and a low of 90.5 points.

Silver July futures fell 0.8% or 21 cents, and closed at $25.87 an ounce, and posted weekly losses of 0.8%, with a monthly gain of 5.5%.