Silver futures add over one percent

Silver futures surged over one percent in American trade as the dollar index gave up ground according to their inverse relation, following earlier disappointing data from the U.S. and China. 

Silver futures due on July 15 rallied 1.27% to $16.61 an ounce from the opening of $16.40, while the dollar index fell 0.34% to 98.91 from the opening of 99.16. 

Earlier U.S. data showed an unexpected drop in the Empire State Manufacturing Index in May, while in China, data showed slowdowns in industrial production,fixed-asset investments, and retail sales on a yearly basis in April.

The downbeat data weighed on risk appetite and buoyed precious metals, after North Korea made a successful missile launch attempt, and following the huge cyber attack, which froze nearly 200 thousand computers in 150 countries in the weekend.