Silver touches four-week trough, dollar hits year high

Silver futures fell in Asian trade to July 19 lows, while the dollar index marked another year high, amid market lull with no data releases from the US today. 

As of 05:03 GMT, silver futures due in September fell 0.29% to $15.25 an ounce, touching four-week lows, while the dollar index inched up 0.11% to 96.47, hitting fresh 13-year highs. 

US data released last week showed consumer prices rose 0.2% m/m in July as expected, accelerating from 0.1% in June, while core prices, excluding food and energy, rose 0.2% as expected with no change from June. 

On a yearly basis, consumer prices rose 2.9% as expected with no change as well, while core prices accelerated to 2.4% from 2.3%. 

The dollar index has strengthened considerably against major currencies, marking the third weekly profit in a row and weighing on dollar-denominated commodity futures, on prospects of two more Federal Reserve rate hikes this year.