Silver closes more than 2% lower as dollar firms
Economies.com
2021-02-04 21:03PM UTC
Silver prices retreated during trading today, Thursday, as the US dollar rallied against most major currencies, amid focus on the monthly jobs report.
The US initial unemployment claims to 779K last week, beating forecasts of a rise to 828K.
The US Labor Department Department of Labor is set to release its monthly jobs report on Friday, amid expectations of 77,000 new jobs added during January after losing 140,000 jobs in December.
The dollar index rose against a basket of major currencies by 0.4% to 91.5 points as of 20:51 GMT, after hitting a high of 91.5 points and a low of 91.09 points.
Silver March futures fell 2.4% or 65 cents, and closed at $26.234 an ounce, with today’s high at $27.015, and the low was at $25.935.
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