Silver posts largest monthly gain in 9 years

Silver futures closed higher on Friday, despite the US dollar stability against most major currencies, amid fears over the escalation of the US-Chiba tensions, to post the largest monthly gains in 9 years.

US President Donald Trump said that China’s pattern of misconduct is well known as it has used the US for decades and stole intellectual property rights in technology, medicine, and military sectors, which has costed the country hundreds of billions of dollars.

Trump also imposed sanctions on officials from Hong Kong and Beijing due to China's decision to  to curb Hong Kong’s autonomy.

The dollar index held at 98.4 points as of 19:26 GMT, after it hit a high of 98.5 and a low of 97.9.

Silver July futures rose 3% to close at at $18.499 an ounce, and posted a monthly gain of 24%, the largest since 2011, with a day high of $18.55 and a low of $17.81.