Silver heads for third consecutive weekly profit as dollar flags

Silver futures tilted lower in American trade away from the highest since April 19 on profit-taking, even as the dollar index fell to the lowest since January 2, 2015, following earlier data from the US, the world's largest economy.

As of 05:31 GMT, silver futures due on December 15 declined 0.14% to $18.090 an ounce from the opening of $18.116, while the dollar index dropped 0.40% to 91.30 from the opening of 91.66. 

Earlier from the US, Federal Reserve Bank of Philadelphia President Patrick Harker delivered opening remarks at a consumer finance research conference hosted by the Federal Reserve Bank of Philadelphia, while earlier data showed wholesales inventories rose 0.6% according to the final reading, compared to 0.4% in the preliminary reading, and 0.7% in June. 

Otherwise, silver futures are losing ground on profit-taking after marking five-month highs earlier this session at $18.29, as the dollar index hut the lowest since early 2015 at 91.01 as chances of a third Federal Reserve rate hike diminish.