Silver ends nearly 5% lower, hits lowest level since September

Economies.com
2020-10-28 20:30PM UTC

Silver prices fell on Wednesday, and hit the lowest level since late September, as the US dollar rose against most of its major counterparts.

 

The coronavirus crisis continues to cast a shadow over several countries around the world, which foreshadows more damage to the global economy.

 

Coronavirus infections jumped to more than 44 million cases globally, and the number of cases rose to more than 9 million in the US alone, with more than 232,000 victims.

 

The dollar index rose against a basket of currencies by 0.5% to 93.4 points as of 21:19 GMT, after it hit a high of 93.6 and a low of 93.05.

 

Silver December futures fell 4.9% or $1.21, and closed at $23.359 an ounce, with today's high at $24.675 and the low at $23.060.

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