Silver deepens losses as dollar firms

Silver prices prices fell on Wednesday, as the dollar rose against most peers, following Federal Reserve officials' statements.

St Louis Fed President James Bullard said that the central bank should press ahead with a plan to dial down its massive pandemic stimulus programme.

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.

The dollar index rose against a basket of major currencies by 0.2% to 92.7 points as of 18:08 GMT, after hitting a high of 92.8 points and a low of 92.4 points.

As of 18:09 GMT, gold spot prices fell 1.2% to $24.06 an ounce, after hitting a high of $24.4 and a low of $23.9.