Silver settles lower for second day, dollar dips

2018-12-06 08:23:11 GMT (Economies.com)
Silver settles lower for second day, dollar dips

Silver futures tilted lower in Asian trade off November 5 highs for the third straight session, as the dollar index gave up some ground as well, ahead of US labor and services data later today. 

 

As of 05:38 GMT, silver futures due in March fell 0.29% to $14.54 an ounce off one-month highs, as the dollar index slipped 0.09% to 96.98 against a basket of major rivals. 

 

Investors now await US data on private sector employment, expected with an addition of 195 thousand last month, down from 227 thousand in October. 

 

The productivity gauge is estimated with a 2.3% increase, up from 0.9% in the second quarter, while labor costs are estimated with a 1.1% increase, compared to a 1.0% drop before.  

 

US unemployment claims are expected to have slipped to 226 thousand, while continuing claims are expected with a 15K drop to 1.695 million. 

 

The ISM services PMI is expected to have slipped to 59.1 in November from 60.3, while factory orders are estimated with a 1.9% decline, compared to a 0.7% increase in September. 

 
 
 
  Symbol Last Change Chg.%
1.1301
-0.0096
0.8406%
1.2573
-0.0130
1.0253%
14.620
-0.001
0.003%
51.143
-1.102
2.109%
60.16
-1.26
2.05%
1239.940
-8.100
0.649%
 
 
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