Silver closes lower after scoring largest weekly gain since 1987

Economies.com
2020-03-30 19:49PM UTC

Silver futures fell on Monday, after gaining 17% in the past week, which are the biggest weekly gains since 1987.

 

Silver was weighed down as investor rushed to hoard the US dollar, amid a sell-off on precious metals.

 

The dollar index rose 0.9% to 99.2 points as of 19:36 GMT, after it hit a high of 99.3 and a low of 98.2.

 

The number of coronavirus infections all over the world rose to more than 750,000 cases, and the death toll rose to 36,000, amid a wide scale lockdown on 3.6 billion people.

 

The US President Donald Trump signed the $2 trillion stimulus aid package last Friday, aimed at providing support for the economy from the coronavirus impact.

 

Silver May futures fell by 2.8% to close at $14.132 an ounce, with a day high of $14.71 and a low of $13.945.

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