Silver rides higher as dollar erases gains

Economies.com
2017-03-24 17:38PM UTC

Silver prices kept rising on Friday to a two-week high, on track for the second weekly profit in a row, as the dollar erased the gains against a basket of currencies following mixed U.S. data and ahead of a crucial healthcare vote in Congress. 

 

Silver last traded at $17.69 an ounce, up from the opening of $17.58, with a session-high at $17.75, and a low at $17.521.

 

Silver's rise comes after dollar erased its gains against a basket of rivals following mixed U.S. data, after services and manufacturing data fell while durable goods orders rose, forcing the greenback down. 

 

On the other hand, markets await the House's vote on a healthcare law supported by the Trump administration, raising demand on safe havens with gold rising alongside the white metal. 

 

The dollar index, tracking the greenback against an array of rivals, last traded at 99.59, down from the opening of 99.74, with a session-high at 99.99, and a low at 99.57. 

 

Commodities News

Gold News

Commodities

Gold recovers as dollar loses ground
2024-05-06 09:32AM UTC
Gold prices rose in European trade on Monday for the first session in three days away from ...
Oil News

Commodities

Oil prices reverse lower, with US crude slumping 7% this week
2024-05-03 19:36PM UTC
Oil prices fell on Friday to seven-week lows amid concerns about oversupplies after an unexpected ...
Gold News

Commodities

Gold under pressure ahead of US jobs data
2024-05-03 08:37AM UTC
Gold prices fell in European trade on Friday, extending losses for the second straight session and ...

Commodities Technical Analysis

Brent oil Analysis

Commodities

Brent oil price forecast update 06-05-2024
2024-05-06 11:08AM UTC
Brent Oil Price Analysis Brent oil price is affected by stochastic positivity, trading ...
Oil Analysis

Commodities

Crude oil price forecast update 06-05-2024
2024-05-06 11:08AM UTC
Crude Oil Price Analysis Crude oil price fluctuates positively to approach testing the key ...
Silver Analysis

Commodities

Silver price forecast update 06-05-2024
2024-05-06 11:08AM UTC
Silver Price Analysis Silver price breached the 26.90$ level clearly and closed the last four ...