Silver logs biggest daily dollars loss since 2011

Silver prices slumped on Tuesday, despite the US dollar fall against its peers, which came due to optimism about the Russian coronavirus-vaccine, which weighed down on investors' appetite from precious metals.

Russian President Vladimir Putin officially announced that Russia has registered the world's first COVID-19 vaccine, and added that his daughter had already been given it, and had passed all needed checks and offered sustainable immunity against the coronavirus.

However, the World Health Organization urged the Russian government to reveal more information about the vaccine, and also urged Moscow to first finish the clinical trials before registering the vaccine.

The dollar index fell against a basket of currencies by 0.1% to 93.5 points as of 19:56 GMT, after hitting a high of 93.7 and a low of 93.1.

Silver September futures lost 11% or $3.21 to close at $26.049 an ounce, the largest loss in dollars since September 23, after hitting a day high of $29.4 and a low of $24.8.