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.
| Symbol | Last | Change | Chg.% | ||
|---|---|---|---|---|---|
|
|
|
1.1737
|
0.0023
|
0.1934%
|
|
|
|
|
1.3714
|
0.0038
|
0.2801%
|
|
|
|
Tadawul
|
11270.57
|
-40.58
|
0.36%
|
|
|
|
|
22.747
|
0.447
|
2.002%
|
|
|
|
|
73.411
|
2.478
|
3.493%
|
|
|
|
|
77.54
|
0.28
|
0.36%
|
|
|
|
|
1754.820
|
-1.985
|
0.113%
|
|
