Silver closes lower as market shifts to strong dollar

Silver prices fell today due to investors shrugging off precious metals as a safe haven to turn to the dollar, which has gained against most major currencies.

Markets are anticipating the Federal Reserve meeting minutes tomorrow to determine the directions of the central bank on the course of monetary policy in the light of its patient approach in raising interest rates.

Investors' concerns over the US-China trade war eased today after the US Commerce Department's decision to grant Huawei an exemption to deal with companies in the country again.

In another context, the dollar index (against a number of major currencies) rose 0.1% to 98.02 points by 18:59 GMT, with a high of 98.1 points and a low of 97.8 points.

Silver futures (June delivery) fell 0.2% or 3.5 cents to close at $14.41 an ounce, reaching a high of $14.46 and a low of $14.35.