Silver falls as dollar steadies on upbeat data
Silver prices fell on Friday, as the US dollar held against most major currencies, after the release of positive economic data.
Data showed today that the US retail sales rose 0.7% in September, while analysts forecast a drop by 0.2%, and the core retail sales reading rose 0.8%, beating forecasts of 0.5%.
The Federal Reserve meeting minutes showed that the central bank's members discussed a plan to reduce asset purchases by $15 billion per month.
The dollar index held against a basket of major currencies at 93.9 points as of 19:29 GMT, after hitting a high of 94.07 points and a low of 93.8 points.
Silver spot prices rose 0.5% to $23.3 an ounce as of 19:31 GMT.
Oil rises, heads for weekly gain
Oil prices rose on Friday, on track for the eighth straight weekly gain, as the US dollar steadied against most major currencies.
The US Energy Information Administration reported yesterday that the crude inventories rose 6.1 million barrels to 427 million barrels last week, while analysts forecast a rise by 0.5 million barrels.
The dollar index held against a basket of major currencies at 93.9 points as of 17:19 GMT, after hitting a high of 94.07 points and a low of 93.8 points.
Goldman Sachs projected that oil prices will remain high during the coming years, as the growth of global demand will continue, and will likely head to record levels in 2022 and 2023.
As of 17:13 GMT, WTI crude November futures rose 1% to $82.09 a barrel.
Brent December futures rose 0.8% to $84.6 a barrel.
Gold falls below $1,800 as dollar stabilizes
Gold prices fell on Friday, as the US dollar steadied against most major currencies, after the release of positive economic data, which pushed the metal below the $1800 barrier.
Data showed today that the US retail sales rose 0.7% in September, while analysts forecast a drop by 0.2%, and the core retail sales reading rose 0.8%, beating forecasts of 0.5%.
The Federal Reserve meeting minutes showed that the central bank's members discussed a plan to reduce asset purchases by $15 billion per month.
The dollar index held against a basket of major currencies at 93.9 points as of 19:55 GMT, after hitting a high of 94.07 points and a low of 93.8 points.
Gold spot prices rose 1.6% to $1,768.4 an ounce as of 19:55 GMT.