Silver heads for second consecutive weekly decline

Silver prices wavered on Friday, registering the fifth daily loss on a row and on track for the second straight weekly decline, despite dollar's retreat against a basket of main rivals.
 
Silver last traded at $16.93 an ounce, compared to the opening of $16.91, with an intraday high at $17.07, and a low at $16.81.
 
Silver's wavering comes after hitting a six-week low amid expectations for a Federal Reserve rate hike next week, moving investments to the banking sector.
 
The dollar fell today against a basket of main rivals on profit-taking, but that failed to underpin the white metal amid ongoing concerns and similar profit-taking on the silver.
 
The dollar index, tracking the greenback against an array of six major rivals, fell to 101.44 from the opening of 102.01, with an intraday high at 102.03, and a low at 101.36.