|
Silver falls to five-month low
Silver prices returned lower on Wednesday to a five-month low as the dollar surged, forcing commodities down today.
Silver last traded at $16.29 an ounce, down from the opening of $16.65, with a session-high at $16.73, and a five-month low at $16.14.
Silver's current drop comes on profit-taking after the greenback jumped to a new 14-year high against main rivals, forcing the dollar-denominated silver futures down.
Markets now await the Federal Reserve's last meeting minutes to take clues on the bank's next decisions and whether it will hike interest rats in December, while would weigh on silver.
The dollar index, gauging the greenback against a basket of main rivals, rose to 101.79 from the opening of 100.95, with an intraday low at 100.88, and a 14-year high at 101.91, which pushed silver prices down.
Thanks for your feedback.
Crude prices return higher after U.S. inventory drawdown
Crude prices returned higher on Wednesday after a negative start, following the EIA report that showed a drop in U.S. crude stocks, buoying prices.
MoreEuro slides to 11-month low as dollar dominates anew
Euro fell sharply on Wednesday to an 11-month low after the dollar rose against major rivals, buoyed by a surge in durable goods orders, which raised expectations of a Fed rate hike.
MoreU.S. crude stocks fall last week
The Energy Information Administration released its weekly report on U.S. crude stocks, showing a drop of 1.3 million barrels in the week ending November 18, compared to the previous reading's 5.3M rise, while analysts expected a 0.3M rise.
More