Silver continues to rally, closes above $18/oz mark

Silver futures closed higher on Wednesday, as the US dollar fell against most major currencies, amid strong safe-haven demand for precious metals due to uncertainty about a possible coronavirus vaccine.

The American pharmaceutical company "Moderna" has attracted global attention after it announced promising results from preliminary human trials of its coronavirus vaccine.

However, scientists quickly stressed doubts about the lack of data to assess the tests of the "Moderna" vaccine, which are still only preliminary results.

The dollar index fell against a basket of currencies by 0.2% to 99.1 points as of 21:57 GMT, after it hit a high of 99.5 and a low of 99.0.

Silver July futures rose 0.7% to close at $18.031 an ounce, after hitting a day high of $18.165 and a low of $17.755.