Silver on track for weekly profit as dollar weakens
2023-07-14 11:28AM UTC

‏Silver prices fell in European trade on Friday for the first time in three days off two-month highs scaled earlier in Asian trade amid profit-taking.


The White metal is heading for a fresh weekly profit, the third in a row and the largest in four months as dollar tumbles.


Silver Prices Today


Silver prices fell 0.75% to $24.68 an ounce, with the highest since May 11 at $24.90, after rising 3.1% on Thursday, the second profit in a row as dollar tumbles.


Weekly Trading 


Silver prices are up 7% so far this week, on track for the third weekly profit in a row, and the largest weekly profit since March.



The Dollar


The dollar index fell to 15-month lows on Friday at 99.58, before gaining some ground, while heading for the largest weekly loss this year.


Dollar was hurt heavily after recent US consumer prices data showed inflationary pressures have reduced considerably.


Such data bolstered expectations that the July Fed rate hike will likely be the last one this year.


US Rates


Markets are fully pricing in a US Fed interest rate hike at the July meeting but no more this year. 

Commodities News

Palladium News


Palladium sharpens decline to below $1000 an ounce
2023-12-08 16:57PM UTC
Palladium prices fell on Friday as the dollar rose against most major rivals, sharpening losses to ...
Gold News


Gold edges up ahead of US jobs data
2023-12-08 08:12AM UTC
Gold prices rose in European trade on Friday for the third straight session ahead of US monthly ...
Oil News


Oil prices try to recover from six-month trough
2023-12-07 13:55PM UTC
Global oil prices rose on Thursday for the first time in six days away from six-month lows as the ...

Commodities Technical Analysis

Gold Analysis


Evening update for Gold 08-12-2023
2023-12-08 15:05PM UTC
Gold price broke the bullish channel’s support line clearly and closed the last four ...
Brent oil Analysis


Midday update for Brent oil 08-12-2023
2023-12-08 10:36AM UTC
Brent oil price attempted to breach 75.60 level but it returned to fluctuate below it again, which ...
Oil Analysis


Midday update for Crude oil 08-12-2023
2023-12-08 10:36AM UTC
Crude oil price traded with additional positivity to attack 70.50 level but it returned to trade ...