Silver closes lower after yesterday's huge loss

Economies.com
2020-08-12 20:15PM UTC

Silver prices fell on Wednesday, to deepen losses after suffering the largest daily loss in dollars since 2011 yesterday.

 

The dollar index fell 0.2% to 93.4 points at 20:02 GMT, with a high of 93.9 and a low of 93.3.

 

Data showed today the US consumer price index rose 0.6% in July, and the Federal budget balance reached a surplus of $63 billion, beating forecasts of of a deficit by $193 billion.

 

The US announced on Tuesday a $1.5 billion deal with Moderna to buy 100 million doses of its coronavirus vaccine.

 

Silver futures fell 0.3% or 7 cents, to close at $25.979 an ounce, after losing 11% yesterday, with a day high of $26.355 and a low of $23.58.

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