Silver futures rally for sixth straight session

Economies.com
2017-05-17 17:55PM UTC

Silver futures rose nearly one percent in American trade as the dollar falls for the fifth straight session according to their inverse relation, following earlier data from the world's largest economy. 

 

Silver futures due on July 15 rose 0.97% to $16.91 an ounce from the opening of $16.75, while the dollar index fell 0.53% to 97.58 from the opening of 98.09, marking its lowest since November 8. 

 

Silver month-highs as chances fade of a Federal Reserve rate hike in June, adding to the scandals hitting the White House and concerns about president Trump's alleged intervention in a Federal investigation. 

 

All weighed on the dollar and dampened risk appetite, buoying demand on safe havens such as silver and hurting riskier assets like stocks.

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