Silver heads for 2nd straight weekly gain

Silver prices fell in the European session today, the first loss in the last three days, as dollar rose, but silver is still on its way for the second straight weekly gain on strong haven demand.

As of 11:14 GMT, silver fell about 0.5% to $17.18 an ounce, from the opening of $17.26, with a high of $17.32, and a low of $17.05.

Silver rose by 0.3% yesterday, its second daily gain, alongside most other precious metals.

While dollar rose today to a 2-week high of 98.31 points, extending gains for the fourth consecutive day, due to strong US retail sales data in addition to the recovery of the US Treasury yields, which have eased the US economy slowdown concerns.

During this week, silver rose by 1.4%, on its way for the second weekly gain in a row on strong haven demand, as global economic recession concerns mounted.