|
Silver spikes to three-week height
Silver prices surged to a three-week high as demand returned on the white metal due to worries in the markets, while the dollar slides against a basket of rivals.
Silver last traded at $17.01 an ounce, up sharply from the opening of $16.35, with a session-low at $16.36, and a three-week high at $17.08.
Silver's gains come amid rising demand on the safe haven as analysts expect the Fed to hold off hiking interest rates following the dismal U.S. payrolls report.
The dollar on the other hand is bleeding further against a basket of rivals, helping silver gain ground and gather momentum and recover past losses.
The dollar index, measuring the U.S. currency's performance against a basket of rivals, last traded at 93.55, compared to the opening of 93.78, with a session-high at 93.88, and a five-week low at 93.51, with the index nearing its second weekly loss after logging four straight weeks of gains.
Thanks for your feedback.
U.S. crude surges to 11-month peak
Crude prices rose on Wednesday to an 11-month peak as crude inventories fell in the U.S., while the dollar tumbled further, opening the door for prices to advance.
MoreOil prices continue to rise recording the highest level in 8 months
Oil prices rose during the European market on Wednesday to continue rise for the third consecutive day, marking the highest level in eight months, due to the US dollar decline to its lowest level in four weeks against a basket of currencies, in addition to the decline in crude stocks in the United States to the lowest level since April by American Petroleum Institute data.
MoreGold jumps to its highest level in two weeks due to the US dollar's decline
Gold prices during the European market on Wednesday jumped to the highest level in two weeks, due to the US dollar decline to its lowest level in a month against a basket of currencies amid receding bets of the Federal Reserve to raise US interest rates this year.
More