Silver drops nearly 2% on rising dollar

2021-09-16 11:59:23 GMT (Economies.com)
Silver drops nearly 2% on rising dollar

Silver prices lost nearly 2% on Thursday, near a 3-week low, due to worries over China's demand, while the US dollar rose against its peers.

 

Silver prices fell nearly 2.0% to $23.40 an ounce, after opening at $23.84, and hit a high of $23.96.

 

Silver closed lower by 0.1% yesterday, after weak data in China, and after recovery attempts from the 3-week low of $23.37 stopped.

 

Data showed on Wednesday that Chinese retail sales fell to the lowest level in a year in August.

 

The dollar index rose over 0.35% today against a basket of major rivals, which weighs down on dollar-denominated metals prices.

 

Investors are still buying up the greenback ahead of the US monthly retail sales and the weekly jobless claims data.

 
 
 
  Symbol Last Change Chg.%
1.1311
0.0041
0.3602%
1.3318
0.0008
0.0567%
Tadawul
10810.60
-60.02
0.55%
22.882
-0.163
0.705%
68.593
-3.808
5.260%
72.57
-0.87
1.18%
1795.430
10.340
0.579%
 
 
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