Silver extends gains to one-month high

Economies.com
2017-03-28 18:10PM UTC

Silver prices rose on Tuesday for the fourth session in a row to a one-month high as the dollar fell against a basket of currencies, while demand rose on safe havens in the markets. 

 

Silver last traded at $18.21 an ounce, up from the opening of $18.03, with a session-high at $18.23, and a low at $17.98. 

 

Silver's rise comes despite strong consumer confidence data from the U.S., which helped the dollar recover from a five-month nadir against a basket of rivals, but strong demand on the white metal helped it extend gains. 

 

On the other hand, demand rose on silver as safe haven amid uncertainty about the U.S. administration's next steps after the healthcare flop, while investors await the official exit process for Britain from the European Union to begin. 

 

The dollar index, tracking the greenback against a basket of rivals, rose to 99.52 from the opening of 99.22, with an intraday high at 99.54, and a low at 99.09. 

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