Silver resumes losses on Chinese demand concerns

Silver prices fell on Wednesday, resuming losses after taking a breather yesterday within recovery from a 3-week low, while today's drop come due to worries over China's demand.

Silver prices fell more than 0.6% to $23.65 an ounce, after opening at $23.85, and hit a high of $23.85.

Silver closed higher by 0.55% yesterday, the fourth gain in 3 days, after it hit a 3-week low at $23.37 on Monday.

Silver prices rose on Tuesday after the release of weak inflation data n the US.

Data showed today that Chinese retail sales fell to the lowest level in a year in August, rising by 2.5%, lower than forecasts of 6.9%, from a rise by 8.5% in July.

The data sparked concerns about the world's second largest economy and the largest consumer of metals and commodities.