Silver rises for first time in five sessions, dollar tumbles

Silver futures rose nearly one percent in Asian trade away from December 14 lows for the second session, while the dollar index fell off year highs, ahead of later US data on personal spending, income, and consumer confidence. 

As of 05:14 GMT, silver futures due on September 15 rose 0.65% to $16.14 an ounce from the opening of $16.24, while the dollar index fell 0.54% to 94.80 from the opening of 95.31. 

Markets await a basket of US data today, with personal spending expected to have slowed down to 0.4% from 0.6% in April, while personal income to edge up to 0.4% from 0.3%. 

Chicago PMI is forecasts at 60.1, down from 62.7 in May, while the University of Michigan's consumer confidence survey is expected to have slipped in the final reading to 99.1 from 99.3 in the preliminary reading. 

Investors also look forward to the ongoing European Union Economic Summit, which entered its second day in Brussels with many issues discussed such as immigration, Brexit, defense and economy, with the leaders already reaching an immigration deal on Thursday.