Silver rises above $16 as dollar falls off two-month high

Economies.com
2019-02-20 05:30AM UTC

Silver futures rose in Asian trade off January 25 lows for the fourth straight session as the dollar index fell off December 17 highs for the fourth straight session, ahead of the Federal Reserve's meeting minutes. 

 

As of 05:14 GMT, silver futures due in March rose 0.28% to $16.01 an ounce, marking early February highs, while the dollar index inched down to 96.51 off two-month highs. 

 

President Trump said he'd be happy to cancel tariffs if a deal is reached with China, adding his administration is nearer that goal than ever. 

 

Chinese President Xi Jinping also said the talks will carry on in Washington this week, hoping for an agreement soon before the truce deadline in early March. 

 

However markets still don't see noticeable results despite the positive remarks, spreading doubts. 

 

Now investors await the Federal Reserve's meeting minutes for the January 29-30 meeting, at which policymakers voted to hold rates unchanged below 2.50%. 

 

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. 

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