Silver erases early losses, closes higher

Silver prices rose on Thursday, to erase the early losses and close higher, as the US dollar fell against most of its counterparts.

Analysts think silver will enter a bull market in the coming period alongside gold, due to uncertainty over the upcoming US presidential elections.

Data showed the initial US unemployment claims rose to 870,000 last week .vs the previous reading of 866,000, worse than forecasts of a drop to 845,00.

The dollar index fell against a basket of currencies by 0.1% to 94.3 points as of 21:00 GMT, after it hit a high of 94.5 and a low of 94.2.

Silver December futures rose 0.4% or 9 cents, to close at $23.196 an ounce, after losing 5.8% yesterday, with today's high at $23.440 and the low at $21.810.