Silver posts 3% weekly loss
Silver prices rose on Friday, as the US dollar fell against its peers, but posted weekly losses after the release of upbeat economic data.
The US retail sales index rose 1.9% in September, beating forecasts of 0.7%, and the first reading of the University of Michigan's consumer confidence survey rose to the highest level since March at 81.2 points.
The dollar index fell against a basket of currencies by 0.1% to 93.7 points as of 22:23 GMT, after it hit a high of 93.8 and a low of 93.5.
Silver December futures rose 0.8% or 18 cents, to close at $24.405 an ounce, with a 2.8% weekly loss, after hitting today's high at $24.660 and the low at $24.185.
Sterling inches higher despite Johnson's negative remarks
The British Pound rose slightly against the US dollar on Friday, despite the British Prime Minister Boris Johnson's negative comments.
Johnson said the UK will leave the EU customs union and the single market without an agreement due to the failure of delivering a fundamental change of approach from Brussels.
This came after the leaders of the European Union decided they would continue negotiations in the coming weeks with the British side.
The market remain concerned about the coronavirus global impact, especially as the second wave of infections forced several major European countries to re-impose lockdown restrictions, led by the UK and France.
GBP/USD rose 0.1% to 1.2924 as of 21:16 GMT, the pair hit an intraday high of 1.2962 and a low of 1.2869.
Gold ends slightly higher, but logs weekly loss
Gold prices edged higher on Friday, as the US dollar fell against its peers. However, the precious metal posted weekly losses.
The US retail sales index rose 1.9% in September, beating forecasts of 0.7%, and the first reading of the University of Michigan's consumer confidence survey rose to the highest level since March at 81.2 points.
The dollar index fell against a basket of currencies by 0.1% to 93.7 points as of 20:49 GMT, after it hit a high of 93.8 and a low of 93.5.
Gold December futures rose 0.1% or $2.50, to close at $1,906.40 an ounce, with a 1% weekly loss, after hitting today's high at $1,918.7 and the low at $1,901.1.
Dollar slips amid anticipation of US stimulus package
The US dollar fell against most of its peers on Friday, amid anticipation of the second fiscal aid package to ease the coronavirus impact on the US economy.
President Donald Trump decided last week to stop the second Covid-19 stimulus talks between his administration and Congress leaders until after the presidential election in November.
However, the Trump administration proposed to the Congress a $1.8 trillion fiscal stimulus package, and then President Trump informed Treasury Secretary Steven Mnuchin to raise even more.
The US retail sales index rose 1.9% in September, beating forecasts of 0.7%, and the first reading of the University of Michigan's consumer confidence survey rose to the highest level since March at 81.2 points.
The dollar index fell against a basket of currencies by 0.1% to 93.7 points as of 20:24 GMT, after it hit a high of 93.8 and a low of 93.5.