Silver sheds over 1% as dollar rises

2021-06-07 12:12:50 GMT (Economies.com)
Silver sheds over 1% as dollar rises

Silver prices fell over 1% on Monday, resuming losses after pausing on Friday, weighed down by the rising US dollar and weak safe-haven demand.

 

Silver Gold prices fell 1.1% to $27.47 an ounce, after opening at $27.75, and a high at $27.78.

 

Silver gained 1.3% on Friday, within recovery attempts from a 3-week low at $27.02, as the US dollar faltered after disappointing jobs data.

 

Last week, silver lost 0.5%, and posted its first weekly loss in 5 weeks, as investors focused the US dollar.

 

The dollar index rose 0.1% today, which weighs down on demand for dollar denominated metals.

 

Several sources said that the Democratic Party will start Wednesday preparing the infrastructure bill for a vote in the US House of Representatives, with or without the Republican Party's support.

 

US Treasury Secretary Janet Yellen said President Joe Biden's $4 trillion spending plan would be good for the US, even if it contributes to rising inflation and results in higher interest rates.

 
 
 
  Symbol Last Change Chg.%
1.1941
0.0039
0.3268%
1.3926
0.0032
0.2271%
Tadawul
10919.68
6.62
0.06%
26.026
0.037
0.144%
73.594
1.768
2.462%
75.56
0.32
0.43%
1777.100
-1.290
0.072%
 
 
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