Silver scales six-week high as dollar declines

Silver futures rose over one percent in American trade to November 2 highs as the dollar index fell off November 13 highs, following earlier US data. 

As of 08:11 GMT, silver futures due in March rose 1.42% to $14.84 an ounce, marking six-week highs as the dollar index fell off four-week highs to 97.05. 

US Inflation Data 

Earlier US data showed consumer prices were unchanged in November as expected, down from October's 0.3% increase. 

Core prices excluding food and energy, rose 0.2% as expected, and also the same as October. 

In an interview with Reuters, US President Donald Trump renewed criticisms of the Federal Reserve's policy tightening and rate increases. 

Trump expressed his desire for the Fed to cut rates to support the economy especially amid the current trade with China and other countries. 

On the chances of an economic recession, Trump believes the economy to be going strong, with corporations performing well too. 

The Federal Open Market Committee is scheduled to meet on December 18-19, with analysts expected the fourth rate hike of the year to below 2.25%. 

The Fed will also release three-year forecasts for growth, inflation, unemployment, and interest rates.