Silver posts lowest close in 3 weeks

Silver fell sharply today as investors shifted toward the bond markets amid improved risk appetite, despite dollar fall against most major currencies.

The markets are anticipating the US Federal Reserve's meeting next week with forecasts of an interest rate cut for the second time this year, which also will be followed by a press conference by Chairman Jerome Powell to speak about the monetary policy.

Investors also shifted from precious metals amid calm over the US-China trade talks, which will begin next month.

The market's hopes increased after mutual positive moves between the US and China ahead of the next round of the trade talks.

In terms of trading, the dollar index fell against a basket of currencies by 0.1% to 98.2 points as of 19:19 GMT, with a high of 98.4 and a low of 98.0.

Silver futures (December delivery) fell by 3.3% or 60.8 cents, to close at $17.569 an ounce (the lowest level since August 23rd), and posted a weekly loss of 3%, with an intraday high of $18.265. and a low of $17.47.