Silver sets one-week high

Silver prices rose today to a one-week high as the dollar logged large losses, buoying the white metal according to their inverse relation. 

Silver last traded at $16.32 an ounce, up from the opening price of $15.96, with an intraday low at $15.92, and a one-week high at $16.43. 

Silver's gains come amid rising demand on the safe haven in the markets after expectations of a Fed rate hike soon plummeted following weak employment data. 

The dollar on the other hand plunged against an array of rivals following the employment data, helping silver rise and gain ground and recover past losses. 

The dollar index, with gauges the U.S. currency against a basket of major rivals, last traded at 94.03, compared to the opening of 95.56, with a session-high at 95.63, and a three-week low at 93.97, with the index nearing its first weekly loss after four weeks of gains.