Silver continues to fall on strong dollar
Silver prices fell on Tuesday, deepening losses for the second day in a row, as the US dollar rose against its peers, amid growing odds of the near monetary policy tightening in the US.
Silver prices fell 0.8% to $22.69 an ounce, after opening at $22.88, and hit a day high at $23.02.
Silver closed lower by 1.8% yesterday, the largest daily loss since December 9, due to rising US dollar.
Silver prices lost about 12% during 2021, the first annual loss in 3 years, and the largest loss since 2014.
This annual loss came due to the US dollar's rally, and concerns about actual demand in China.
The dollar index rose 0.1% today, which lowers demand for dollar-denominated metals and commodities prices.
This US dollar is being lifted by growing odds of the near monetary policy tightening in the US, with at least 3 expected interest rate hikes starting next May.
| Symbol | Last | Change | Chg.% | ||
|---|---|---|---|---|---|
|
|
|
1.1285
|
-0.0012
|
0.1098%
|
|
|
|
|
1.3491
|
0.0013
|
0.0998%
|
|
|
|
Tadawul
|
12108.56
|
56.61
|
0.47%
|
|
|
|
|
23.812
|
-0.004
|
0.017%
|
|
|
|
|
85.060
|
1.519
|
1.818%
|
|
|
|
|
87.94
|
1.62
|
1.88%
|
|
|
|
|
1849.470
|
10.005
|
0.544%
|
|
