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.%
1.1322
0.0051
0.4556%
1.3323
0.0013
0.1003%
Tadawul
10810.60
-60.02
0.55%
22.806
-0.239
1.035%
67.564
-4.837
6.681%
71.20
-2.24
3.05%
1792.170
7.080
0.397%
 
 
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