Silver soars 3% past $17 an ounce

Silver futures spiked nearly three percent in American trade even as the dollar index gained ground, following an array of data from the US, the world's largest economy, while the Federal Reserve held interest rates unchanged in today's policy meeting. 

As of 06:12 GMT, silver futures due on December 15 jumped 2.74% to $17.15 an ounce from the opening of $16.693, while the dollar index rose 0.18% to 94.73 from the opening of 94.55. 

Earlier US data showed the economy created 235 new private sector jobs, up from 110 thousand jobs in September, beating forecasts of 202K, as markets look forward to the official payrolls report on Friday. 

Additionally, US ISM Manufacturing PMI slowed down to 58.7 in October from 60.8 in September, missing expectations of 59.5., while ISM manufacturing prices slid to 68.5 from 71.5 in September, beating forecasts of 68.0. 

The Federal Reserve voted to hold overnight interest unchanged between 1.00% and 1.25% in the Federal Open Market Committee's policy meeting ending today, matching analysts' expectations. 

Otherwise, President Donald Trump is expected to pick Open Market Committee member Jerome Powell to the post of Federal Reserve Chair after current occupant, Janet Yellen's term ends next February.