Silver ends nearly 2% higher for second consecutive session

Silver futures closed higher on Wednesday, as the US dollar held against most of its counterparts after the inauguration of US President Joe Biden.

Biden stated during his inauguration speech that the American people must unite and overcome differences and divisions, and called on citizens to wear masks to prevent the coronavirus.

Markets are anticipating the decisions Biden will take, amid reports that he intends to cancel some of his predecessor Trump's decisions including rejoining the climate change agreement and the World Health Organization, in addition to canceling the construction of the US-Mexico border wall.

The dollar index held against a basket of major currencies at 90.4 points as of 20:46 GMT, after hitting a high of 90.7 points and a low of 90.2 points.

Silver March futures rose 1.8% or 45 cents, and closed at $25.766 an ounce, after closing higher by 1.8% yesterday, with today’s high at $25.945, and the low at $25.060.