Silver ends lower despite weaker US dollar

Silver futures closed lower on Thursday, despite the release of weak economic data and the US dollar's drop against its peers.

The initial unemployment claims in the US fell to 861,000 last week, worse than forecasts of 775,000.

The markets are focused on the ongoing discussions between the White House and the US Congress over President Joe Biden's $1.9 trillion Covid-19 relief plan.

The dollar index fell against a basket of major currencies by 0.4% to 90.6 points as of 20:50 GMT, after hitting a high of 90.9 points and a low of 90.5 points.

Silver March futures fell 0.9% or 24 cents, and closed at $27.078 an ounce, with today’s high at $27.595, and the low at $26.905.