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Silver creeps out off seven-week trough
Silver prices rose on Thursday after setting a seven-week low yesterday, as the dollar wavered against a basket of rivals, allowing the white metal to gain some ground.
Silver last traded at $16.00 an ounce, compared to the opening price of $15.93, with a session-high at $16.03, and a low at $15.89, after prices hit a seven-week low yesterday at $15.79.
Silver's current dithering comes as commodities retreat further, triggering short-covering activities which held the white metal into its flat position.
On the other hand, the dollar remains flat today, on the verge of rising after positive data on private sector jobs, underpinning the greenback further.
The dollar index, which tracks the greenback versus a basket of six major rivals, last traded at 95.49, compared to the opening of 95.39, with a session-high at 95.55, and the lowest level this week at 95.14, after the index hit an eight-week peak this week at 95.96 before returning lower and wavering.
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