Silver extends gains, closes more than 3% higher
Economies.com
2020-05-14 20:12PM UTC
Silver futures rose on Thursday, to shrug off the US dollar and stock markets surge.
Precious metals attracted safe-haven demand following Federal Reserve Chairman Jerome Powell's warning that US economy is facing a severe economic downturn due to the coronavirus crisis.
The US department of labor revealed that the unemployment claims rose 195,000 to 2.981 million.
The dollar index rose against a basket of currencies by 0.2% to 100.4 points as of 20:00 GMT, after it hit an intraday high of 100.5 and a low of 100.1.
Silver July futures rose 3.1% to close at $16.156 an ounce, after losing 0.2% yesterday, with a day high of $16.225 and a low of $15.66.
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