Silver falls on weak demand ahead of Fed meeting minutes

Silver prices fell today in the European market to resume losses, which were temporarily halted yesterday amid a respite, on weak heaven demand and ahead of the release of the US Fed's meeting minutes.

As of 11:50 GMT, silver fell by 0.6% to $17.03 an ounce, from the opening of $17.13, with a high of $17.14, and a low of $16.99.

Silver rose by 1.7% yesterday, in recovering attempts of its earlier losses, as dollar fell against a basket of currencies, which in addition to lower haven demand, silver and most other precious metals prices are falling.

Investors are anticipation today the release of the Fed meeting minutes  which was held on July 30-31, and resulted in a rate cut by 25 basis points to 2.25%, the first cut in more than a decade.

The minutes is expected to include strong signes on the future of the US interest rate cuts, and in case of pessimistic signes then the market's bets will rise for another rate cut this year.