Silver keeps wavering on dollar's strength, ahead of Fed's decisions
Economies.com
2017-03-14 18:23PM UTC
Silver prices kept wavering on Tuesday for the second day in a row after the dollar rose against a basket of currencies following upbeat U.S. inflation data, while investors await the Federal Reserve's expected rate hike.
Silver last traded at $16.91 an ounce, compared to the opening of $16.91, with an intraday high at $17.03, and a low at $16.87.
Silver's wavering comes amid expectations the Fed will increase interest rates tomorrow and weigh on commodities as investments move away to the banking sector.
On the hand, the dollar rose today after strong producer prices data from the U.S., bolstering the case for a rate hike and heaping pressure on the white metal.
The dollar index, tracking the greenback against a basket of six major counterparts, rose to 101.64 from the opening of 101.41, with an intraday low at 101.33, and a high at 101.67.
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