Silver falls over 2.5% as investors eschew precious metals

Silver prices fell on Monday, as the US dollar rose against most of its major counterparts, amid renewed coronavirus concerns.

World Health Organization data stated that coronavirus infections have increased in the USs, Europe and Asia due to the new Delta strain, which has renewed fears of the pandemic spreading out of control.

The US government revealed that the average infection during the past seven days until Friday was about 30,000 cases, which is higher than June's average of 8,000 cases.

The dollar index rose against a basket of major currencies by 0.2% to 92.8 points as of 18:34 GMT, after hitting a high of 93.04 points and a low of 92.6 points.

Gold spot prices fell 2.6% to $25.1 an ounce as of 18:34 GMT, after hitting a day high of $25.8 and a low of $25.03.