Silver prices fell on Monday, due to the US dollar's rise against most currencies, amid focus on inflation signals in major economies.

Members of the European Central Bank hinted that the bank may decide during its next meeting in December to end the pandemic quantitative easing programs.

Optimism about containing the coronavirus is growing, especially after Merck announced that it had applied to the FDA for an emergency use for its anti-viral drug.

The dollar index rose against a basket of major currencies by 0.3% to 94.3 points as of 19:54 GMT, after hitting a high of 94.3 points and a low of 94.03 points.

Silver spot prices fell 0.5% to $22.6 an ounce as of 19:54 GMT, with a day high at $22.8, and a low at $22.4.

US stock indices fell on Monday, and pared early gains that came due to the energy and tech sectors' rally.

Investors are anticipating major US companies to report their quarterly results for the third quarter starting this week.

The energy sector rebounded thanks to the rising oil prices, as Brent crude surpassed the $84/barrel barrier.

Optimism about containing the coronavirus is growing, especially after Merck announced that it had applied to the FDA for an emergency use for its anti-viral vaccine.

To the oil market, WTI crude November futures rose 1.5% or $1.17, and closed at $80.52 a barrel, the first time closing above $80 since 2014.

Brent December futures rose 1.5% or $1.26, and closed at $83.65 a barrel.

As for stocks, Dow Jones fell 0.7% or 250 points, and closed at 34,496, with a day high of 34,951, and a low of 34,486.

S&P 500 fell 0.7% or 30 points to 4,361, after hitting a high of 4,415 and a low of 4,360 points.

Nasdaq fell 0.6% or 93 points to 14,486, with a high of 14,665 and a low of 14,482.

Oil prices rose on Monday, as the US crude continued to rise above the $80 mark for the first time in nearly seven years.

Major US banks projected that the current spike in oil prices will continue throughout this year, but Capital Economics projected that oil will head lower during the current quarter of 2021.

Oil is extending gains thanks to the continued recovery of global demand and optimism about containing the coronavirus in many countries.

The dollar index rose against a basket of major currencies by 0.2% to 94.2 points as of 16:56 GMT, after hitting a high of 94.3 points and a low of 94.03 points.

As of 16:53 GMT, WTI crude November futures rose 2.4% to $81.2 a barrel.

Brent December futures rose 2% to $84.02 a barrel.

US stock indices rose in early trading on Monday, lifted by the tech and energy sectors.

Optimism about containing the coronavirus is growing, especially after Merck announced that it had applied to the FDA for an emergency use for its anti-viral vaccine.

The energy sector rebounded thanks to the rising oil prices, as Brent crude surpassed the $84/barrel barrier, and the US crude jumped above the $82 mark.

The markets absorbed the US Department of Labor's data that showed the economy has added 194,000 new jobs in September, missing forecasts of 490,000. 

The unemployment rate fell to 4.8% from 5.2% in September, better than forecasts of 5.1%.

As for stocks, Dow Jones rose 0.5% or 177 points to 34,923 as of 14:07 GMT, and S&P 500 rose 0.4% or 19 point to 4,410, while Nasdaq rose 0.4% or 57 points to 14,637.