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%
|
|
