Silver falls near 5-month low as dollar strengthens

Silver prices fell on the European market on Tuesday to resume losses, which were temporarily halted yesterday, approaching again the lowest level in five months, under the pressure of the US dollar strong performance against a basket of currencies.

As of 11:38 GMT, Silver prices fell by more than 0.2% to $14.39 an ounce from the opening level of $14.42, with a high of $14.47, and a low of $14.38.

Yesterday's the white metal gained 0.5%, its first gain in three days, as it retreated from a five-month low of $14.37 per ounce recorded earlier in the session.

Silver fell 2.8% over last week's trading, its third weekly loss in a row, as the US dollar rose, along with concerns about the actual demand levels in the world's largest metal consumer, China.

The dollar index rose 0.2% on Tuesday, resuming its gains, which were suspended yesterday, reaching a four-week high of 97.96 points, reflecting the rise of the US dollar against a basket of major and minor currencies.

The dollar's rally is also supported by the 10-year US Treasury yield hike as investors' risk appetite improves after the US government eased trade restrictions on the Chinese tech giant, Huawei.