|
Silver soars as dollar plunges
Silver prices rose on Monday to a three-week high as the dollar fell against a basket of currencies, underpinning the white metal as haven demand climbs.
Silver last traded at $18.06 an ounce, up from the opening of $17.84, with a session-high at $18.11, and a low at $17.81.
Silver's current rise comes amid higher haven demand, with gold advancing as well, as global stocks give up ground following the failure of the U.S. administration to pass a crucial healthcare bill through Congress, casting doubts about its ability to pass other laws such corporate tax cuts and infrastructure spending.
Dollar's fall to a five-month low against a basket of currencies helped the white metal as well as investors look for alternative investments while risk appetite subsidizes.
The dollar index, tracking the greenback against a basket of rivals, rose to 99.16 from the opening of 99.30, with an intraday high at 99.36, and a low at 98.84.
Thanks for your feedback.
Crude prices start the week lower amid negative pressures
Crude prices fell on Monday amid ongoing negative pressures due to oversupply concerns, as U.S. crude stockpiles rose sharply last week, while OPEC's output cuts failed to support prices and offset rising U.S. shale production.
MoreSterling rallies to seven-week high
Sterling rose on Monday to a seven-week high as the dollar gave up ground against a basket of currencies, while markets await for the official British exit process from the European Union to start this week.
MoreEuro rallies to five-month high after bullish ECB statements
Euro rose to a five-month high on Monday after statements from an ECB official saying markets should get ready for a change in monetary policy, underpinning the common currency, while the dollar skids.
More