Silver ends slightly higher, recoups some of yesterday's losses

Silver prices rose today buoyed by increased haven demand on precious metals, after the release of weak economic data in addition to US dollar dropping against most of the major currencies.

The US economy revealed today that retail sales fell by 0.3% in September, lower than market forecasts of a rise by 0.3%, which renewed slowdown concerns over the US economy.

The US Federal Reserve announced today the launch of its plan to purchase short-term treasury bills, aimed at easing funding restrictions in the financial system and increasing liquidity on banks' reserves.

Otherwise, the markets are closely monitoring the progress in the ongoing Brexit intensive talks between the UK and the EU.

As of 18:15 GMT, the dollar index fell against a basket of major currencies by 0.3% to 98 points, with an intraday high of 98.4 and a low of 97.9.

Silver futures for December delivery rose by 0.3% to close at $17.427 an ounce, after it posted a daily loss of 1.8% yesterday, with a high of $17.49 and a low of $17.18.