Silver prices rise as Yellen keeps rate hike date foggy

Economies.com
2016-08-26 17:47PM UTC

Silver prices rose on Friday before the weekend after hitting an eight-week low yesterday, as Yellen didn't set a specific date to hike interest rares, underpinning the white metal. 

 

Silver last traded at $18.73 an ounce, up from the opening price of $18.54, with a session-high at $19.05, and a low at $18.51. 

 

Silver's fall this week to an eight-week trough came as demand waned on the safe haven while concerns arise over the slowdown of global growth. 

 

Today, silver returned higher even as the dollar recovered, after Yellen didn't set a specific date for hiking rates, buoying silver prices as they in opposite ways to interest rates. 

 

The dollar index, which tracks the greenback against an array of six main currencies, last traded at 94.77, compared to the opening of 94.80, with a session-low at 94.57, and a high at 94.82, after the index hit its highest this week at 94.90. 

 

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