Silver hits two-week high as dollar backs off two-month high

Silver futures rose in American trade to October 3 highs as the dollar index fell off August 20 highs for the fourth session out of five, following earlier data from the US today. 

As of 06:19 GMT, silver futures due in December rose 0.34% to $14.69 an ounce, marking two-week highs, while the dollar index slipped 0.13% to 95.10 away from two-month highs. 

Earlier US data showed retail sales rose 0.1%, same as August and missing estimates of 0.7%, while core prices fell 0.1%, missing estimates of a 0.4% addition. 

The Empire State Manufacturing index rose to 21.1 from 19 in August, besting estimates of 20.4, while wholesale inventories rose 0.5%, adding to the 0.6% increase in July. 

Silver marked the best daily performance last Thursday since September 28, but still sustained the second weekly loss in a row, weighed down by US-China trade worries. 

Last week, the People's Bank of China cut reserve requirements for Chinese banks for the fourth time this year amid attempts to ease policies and bolster spending.