Silver settles under $17 despite renewed trade worries
Silver prices fell on Monday, as precious metals tumbled in sell-off, despite renewed trade concerns over the US-China trade talks and a drop in the US dollar.
US President Donald Trump said that the US was ready to increase the tariffs on imports from China if no trade deal is reached.
Trump also said that Beijing still wants a trade deal, adding "we'll see what happens in the coming period".
The US president stated that he intends to impose tariffs on steel imports from Brazil and Argentina due to the two countries manipulation of their currencies' exchange rate.
Otherwise, the dollar index fell against a basket of currencies by 0.4% to 97.8 points as of 20:36 GMT, and hit an intraday high of 98.3 and a low of 97.8.
Silver March futures lost 0.8% and closed at $16.966 an ounce, with a high of $17.10 and a low of $16.895.
| Symbol | Last | Change | Chg.% | ||
|---|---|---|---|---|---|
|
|
|
1.1085
|
0.0187
|
1.7150%
|
|
|
|
|
1.2306
|
0.0120
|
0.9864%
|
|
|
|
Tadawul
|
7050.66
|
0.49
|
0.01%
|
|
|
|
|
17.864
|
0.753
|
4.401%
|
|
|
|
|
34.715
|
1.285
|
3.844%
|
|
|
|
|
35.31
|
0.02
|
0.06%
|
|
|
|
|
1737.625
|
9.765
|
0.565%
|
|
