Silver posts biggest weekly gain since 1987

Silver futures closed lower on Friday, despite the US dollar's drop against most currencies and stocks losses, but silver scored its largest weekly gains since 1987.

The US House of Representatives voted today on favour of the $2 trillion financial stimulus package, which is aimed at easing the coronavirus impact on US companies and families.

President Donald Trump signed the stimulus bill and praised the Republican and Democratic parties unity to support the US economy.

The dollar index fell against a basket of currencies by 1% to 98.3 points as of 21:11 GMT, with a high of 99.8 and a low of 98.3.

Silver May futures fell 1% to close at $14.534 an ounce, but posted the largest weekly gains since April 1987 of 17%, after hitting a day high $14.84 and a low of $14,345.