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Silver falls over 1.5% on dollar strength
Silver prices fell on Friday, as the US dollar rose against most currencies, which weighs down on the prices of most commodities and metals.
Results from the University of Michigan Survey of Consumers, showed that the index rose to 71 points in August from 70.3 in July, slightly lower than forecasts of 71.9 points
The dollar index rose against a basket of major currencies by 0.3% to 93.2 points as of 18:45 GMT, after hitting a high of 93.2 points and a low of 92.7 points.
Efforts to contain the coronavirus pandemic are continuing around the world by distributing more vaccines.
As of 18:46 GMT, silver spot prices fell 1.7% to $22.3 an ounce, with a high of $23.1 and a low of $22.3.
Oil heads for fourth straight weekly gain
Oil prices continued to fall as the US market opened on Friday, deepening losses for the second day and gave up a 6-week high on profit-taking, as fears over production delay in the Gulf of Mexico region eased, but remain on the cusp of the fourth straight weekly gain thanks to demand hopes in the US.
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