Silver continues to fall on strong dollar

2022-01-04 14:06:51 GMT (Economies.com)
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%
 
 
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