Silver rises more than 1% as dollar dives

2019-03-15 12:48:51 GMT (Economies.com)
Silver rises more than 1% as dollar dives

Silver rose more than 1% on the European market on Friday, heading for the second consecutive weekly gain, supported by the fall of the US dollar against a basket of currencies, and also supported by the rise in copper prices in the global market.

 

As of 11:55 GMT, Silver prices rose 1.3% to trade at $15.37 an ounce from the opening of $15.17, the highest at $15.38 and the lowest at $15.16.

 

Silver ended yesterday's trading falling 1.7%, with the correction process accelerating from the highest level in two weeks at $15.52 an ounce and under the pressure of slowing investment demand for safe assets.

 

The dollar index fell more than 0.1% on Friday, continuing its losses for the sixth consecutive day, hitting a two-week low of 96.03 points, reflecting the continued decline of the US dollar against a basket of currencies.

 

The US dollar continued to fall as economical data in the United States confirmed on Thursday, that there is a growing pressure on the path of growth of the world's largest economy, weakening the chances that the Federal Reserve will raise US interest rates at least once this year.

 

Meanwhile, Copper prices rose 1.2% on the verge of a fourth gain in the past five days, leading the rise in most of the prices of industrial metals, relying on hopes that China will reach a comprehensive trade agreement with the United States.

 
 
 
  Symbol Last Change Chg.%
1.1312
-0.0014
0.1245%
1.3111
-0.0185
1.3929%
15.496
0.201
1.314%
59.781
1.399
2.395%
67.81
-0.06
0.09%
1311.220
8.910
0.684%
 
 
Live Forex Updates