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.