Silver resumes decline off seven-month highs, dollar flat

2019-02-08 09:37:47 GMT (Economies.com)
Silver resumes decline off seven-month highs, dollar flat

Silver futures fell in Asian trade off July 9 highs for the sixth session out of seven, while the dollar index traded mostly flat for the day, amid renewed concerns about trade talks and global growth. 

 

As of 05:!0 GMT, silver futures due in March fell 0.34% to $15.68 an ounce off seven-month highs, while the dollar index barely inched down 0.02% to 96.57 against a basket of major rivals. 

 

US President Donald Trump said he doesn't intend to meet with his Chinese counterpart Xi Jinping before the final deadline for their trade truce in early March, in turn sparking concerns over the trade dispute. 

 

The European Commission cut estimates for euro zone growth due to China's slowdown and Brexit concerns, while Bank of England Governor Mark Carney warned that a no-deal Brexit would raise economic recession risks, adding that resulting uncertainty would harm trade and finances considerably. 

 

The BoE cut growth estimates for the UK to 1.2% from 1.7% previously. 

 

Former Federal Reserve Chair Janet Yellen surprised the markets by saying the next move by the Fed will probably a rate hike as the global economy slows down and weighs on the US. 

 
 
 
  Symbol Last Change Chg.%
1.1244
-0.0066
0.5827%
1.3001
-0.0079
0.6047%
15.005
0.020
0.134%
64.010
0.218
0.343%
71.97
0.35
0.49%
1275.700
-15.150
1.174%
 
 
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