Silver tries to recover from 4-month low, as dollar turns lower

Silver prices rose during the European session on Monday, in attempts to recover from the 4-month low hit earlier, which comes on the US dollar's drop against a basket of currencies.

Silver rose by 0.6% to $16.64, after opening level at $16.54, and hit an intraday low of $16.52 (the lowest since Aug.7).

Silver fell by 2.2% on Friday, its second daily loss in 3 days, and largest since Nov.7, after upbeat jobs data in the US.

During last week, silver prices lost 2.5%, to post the first monthly loss in a month, due to diminished safe-haven demand.

The US dollar index fell by 0.1% against its rivals, after hitting a pause on Friday, as sell-off continued which comes in favour of dollar-denominated metals.

This drop in US dollar is due to investors' risk aversion after the release of weak Chinese data and the lingering uncertainty about the US-China trade talks.