Silver deepens losses, closes below $24

Silver prices fell on Friday, as the US dollar rose slightly against most peers, after the release of upbeat economic data.

The US Transportation Security Administration decided to increase the fine for refusing to wear a mask in public transportation to $3,000.

This comes amid concerns over the coronavirus pandemic, especially after the new highly transmissible delta strain emerged, which sparked worries over the global economic recovery.

Data showed that the US producer price index for August rose 0.7%, slightly higher than forecasts of 0.6%.

The dollar index rose against a basket of major currencies by 0.1% to 92.5 points as of 20:27 GMT, after hitting a high of 92.5 points and a low of 92.3 points.

As of 20:28 GMT, silver spot prices fell 1.6% to $23.7 an ounce.