Silver powers up to two-week high, dollar tapers off in Asia

Silver futures rose nearly one percent in American trade to September 4 highs, as the dollar index settled near two-month lows, ahead of US manufacturing and services data. 

As of 05:23 GMT, silver futures due in December rose 0.77% to $14.41 an ounce, marking two-week highs, while the dollar index barely inched down to 93.89 against a basket of major rivals. 

Now investors await US data on flash manufacturing and services PMIs, with the first estimated at 55.1, up from 54.7, while the second is also expected with an increase to 54.9 from 54.8. 

Markets also look forward to the Federal Open Market Committee's September 25-26 policy meeting in Washington, with analysts betting on another 0.25% rate hike to just below 2.25%.