Silver falls after upbeat economic data

Silver prices fell on Thursday, after the release of positive economic data, despite the US dollar's drop against most currencies.

The US Department of Labor showed that the unemployment claims fell to 340K last week, the lowest level since March 2020, from 354K applications, while analysts forecast 342K.

The department will reveal the monthly jobs report on Friday, which gauges the US labor market recovery.

It should be noted that Federal Reserve Chairman Jerome stated that the Fed will start tapering its asset purchases before the end of 2021.

The dollar index fell against a basket of major currencies by 0.2% to 92.3 points as of 21:56 GMT, after hitting a high of 92.5 points and a low of 92.3 points.

As of 21:56 GMT, silver spot prices fell 1.2% to $23.9 an ounce.