|
Silver extends gains to four-week high
Silver prices kept rising after a negative start for the day, as higher haven demand boosted prices to near four-week highs.
Silver last traded at $18.16 an ounce, up from the opening of $18.13, with an intraday high at $18.21, and a low at $18.01.
Silver's current rise comes amid higher haven demand in markets after Britain officially initiated the process to exit the European Union, stoking concerns and boosting demand on silver as a safe haven.
Silver's rise comes despite dollar's rebound against a basket of rivals today, which would've hurt silver prices, but higher demand on the metal helped it retain the gains.
The dollar index, tracking the greenback against a basket of currencies, rose to 100.05 from the opening of 99.69, with an intraday high at 100.12, and a low at 99.65.
Thanks for your feedback.
Crude prices extend gains after smaller-than-expected U.S. inventory buildup
Crude prices kept rising on Wednesday for the second session in a row after U.S. crude stockpiles rose less than expected last week, while Libyan supplies fell amid military conflicts.
MoreSterling wavers after Britain starts official exit from EU
Sterling wavered on Wednesday after Britain started the official process to exit the European Union today, weighing on markets amid lingering concerns about its repercussions.
MoreEuro falls for second straight day as dollar rebounds
Euro fell on Wednesday for the second day in a row after the dollar rallied against a basket of rivals, snapping a losing streak that pushed it to a five-month low, amid ongoing tensions in European markets after Britain officially started the exit process from the European Union.
More