Silver heads for first weekly gain in 2021

Silver prices fell on Friday, and backed off the 2-week high that was hit yesterday, to head for the first loss out of 5 days on profit-taking, but remains on the cusp of the first weekly gain in 2021 Thanks to the US dollar's.

Silver prices fell 3.0% to $25.15 an ounce, after opening at $25.93, and hit a high of $25.96.

Silver closed higher by 0.2% yesterday, posting its fourth straight daily gain and its 2-week high of $26.04 an ounce, as most dollar-denominated commodities and metals rose.

Silver prices gained around 2% so far this week, to head for the first weekly gain during the last three weeks and in 2021.

Silver prices are lifted as demand for the US dollar slowed down due to high market sentiment and improved appetite after US President Joe Biden's was sworn in office.