Silver pulls back from 1-month high, closes lower

2021-02-23 22:10:18 GMT (Economies.com)
Silver pulls back from 1-month high, closes lower

Silver prices fell on Tuesday, and pulled back from the 1-month high that was hit yesterday, as the US dollar rose against its peers.

 

The Federal Reserve Chairman Jerome Powell stated during his Senate hearing that inflation and employment are still far from the Fed's targets.

 

Powell had stressed before that the US economy's recovery had moderated and employment slowed during the past few months, but expressed optimism about a return to recovery in tandem with vaccination.

 

The dollar index rose against a basket of currencies by 0.1% to 90.1 points as of 21:22 GMT, and hit a high of 90.2 points, and a low of 89.9 points.

 

Silver March futures fell 1.4% or 40 cents, and closed at $27.688 an ounce, after hitting a day high at $ 28.425 and and the low at 27.285.

 
 
 
  Symbol Last Change Chg.%
1.2160
0.0015
0.1219%
1.4134
0.0098
0.7014%
Tadawul
9115.76
-51.05
0.56%
27.909
0.454
1.652%
63.309
2.920
4.835%
67.04
1.94
2.98%
1798.390
0.445
0.025%
 
 
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