Silver prices soared today and posted back-to-back gains, buoyed by increased safe-haven demand on precious metals while equities reeled, amid renewed trade worries after new threats about the US-China trade talks.

US President Donald Trump has warned China to increase tariffs on its exports to the United States if it does not sign the first phase of the final trade deal.

President Donald Trump threatened to increase tariffs against Chinese imports, if Beijing does not sign the first phase of the trade deal.

Similarly, the Chinese stressed concerns about Trump administration's tougher stance toward canceling the Chinese tariffs or even the planned tariffs hike.

Otherwise, the dollar index held against a basket of major currencies at 97.8 points as of 20:48 GMT, and hit an intraday high of 97.8 and a low of 97.7.

Silver futures for December delivery rose by 0.7% and settled at $17.118 an ounce, with a high of $17.16 and a low of $16.935.

Oil prices fell today to deepen losses ahead of the US crude inventories data and amid anticipation for OPEC meeting scheduled for next month.

Several news agencies reported that the Russian government is unlikely going to agree on more output cuts under the OPEC agreement in the next OPEC's meeting by December in Vienna.

The American Petroleum Institute (API) will release its preliminary data on the US crude inventories later today, while the US Energy Information Administration (EIA) will unveil the official data tomorrow.

Otherwise, the dollar index held against a basket of major currencies at 97.8 points as of 17:10 GMT, and hit an intraday high of 97.8 and a low of 97.7.

As for oil, the US crude benchmark (WTI) shed 2.2% to $55.7 a barrel as of 17:03 GMT, with a session-high $57.1, and a low of $55.5.

Brent lost 1.7% to $61.3 a barrel, with a high of $62.5 and a low of $61.1.

Gold futures settled higher on Tuesday, to continue gains for the second straight session amid the US dollar stability, and increased investors' appetite for precious metals as safe havens while stocks lost appeal.

This comes amid renewed concerns over the trade talks between the US and China.

President Donald Trump threatened to increase tariffs against China, if Beijing does not sign the first phase of the trade deal, which diminished hopes and proved the reported hurdles facing the talks.

Otherwise, the dollar index held against a basket of major currencies at 97.8 points as of 19:24 GMT, and hit an intraday high of 97.8 and a low of 97.7.

Gold futures for December delivery rose by 0.2% to close at $1,474.30 an ounce, with a high of $1,475.8 and a low of $1,465.1.

President Donald Trump threatened again to increase tariffs against Chinese goods.

Trump said his administration will increase tariffs on Chinese imports if China does not sign the first phase of the trade deal.

Which came after news that the trade talks are facing several hurdles on the way for a final deal, including the volume of China's pledge to increase US farm purchases, and concerns in Beijing about canceling the tariffs.

US officials have expressed their hopes that the first phase trade deal will be signed in this month or the next, and in case that didn't happen the Trump administration will increase tariffs on December 15.