Silver plummets nearly 6%, closes at lowest level since July

Silver prices fell on Wednesday, to close at the lowest level since July, as precious metals and commodities were weighed down by the dollar's strength..

This came amid lingering uncertainty about the future steps by central banks around the world to face the coronavirus, especially as several European countries are on the brink of a second wave of infections.

The dollar index rose against a basket of currencies by 0.3% to 94.2 points as of 20:20 GMT, after it hit a high of 94.3 and a low of 93.9.

Data showed today the US services PMI fell to 54.6 points in September, while the manufacturing PMI rose to 53.5 points.

Silver December futures lost 5.8% or $1.42, to close at the lowest level since the end of July at $23.105 an ounce, after hitting today's high at $24,620 and the low at $22,745.