Silver rising to its highest level in three weeks by falling US dollar

Silver prices rose during the European market on Wednesday for the third day in the last four days, marking the highest level in three weeks, due to decline in the US dollar to its lowest level in a month against a basket of currencies with receding expectations of increased US interest rates middle of next week.

By 11:55 GMT silver traded around $ 16.84 per ounce after the opening of trading today at $ 16.38, and recorded the highest at $ 16.89 the highest since 19th of last May, and the lowest level of $ 16.37.

Silver prices ended lower yesterday's trading down 0.5 percent due to a correction after prices posted strong gains over two days, silver achieved an increase of 3.1 percent over two days the biggest gain during that period since 20th of last April.

The dollar index, which tracks the US currency's performance against a basket of currencies, fell 0.3 percent, extending losses for the second consecutive day, marking the lowest level in the month of 93.53 points, with continued selling the US currency operations in light of receding the stakes of the onset of the US Federal Reserve to increase US interest rates.

Now traders do not see any opportunity to increase US interest rates at the Federal meeting at June 14 to 15 , down from 22 percent the average bets end of last month, and the stakes of the increase in July to18 percent, down from 55 percent.