Silver prices edged higher on Monday, as the US dollar fell against most major currencies.

This comes ahead of the US Federal Reserve’s monetary policy meeting, amid anticipation of more clues about the pace of the US inflation and the future of interest rates.

The Fed meeting will launch on Tuesday, and will continue to Wednesday, amid expectations of holding the benchmark interest rate near zero, and will be followed by a press conference from the Fed Chief Jerome Powell.

Major US companies will start announcing their Q2 business results this week, led by Tesla, Apple, Facebook and Amazon.

Efforts to contain the coronavirus pandemic are continuing around the world, especially after the emergence of the new highly spreading Delta variant in some countries.

The dollar index fell against a basket of major currencies by 0.3% to 92.6 points as of 19:42 GMT, after hitting a high of 92.9 points and a low of 92.5 points.

Silver spot prices rose 0.1% to $25.2 an ounce as of 19:42 GMT, with a day high at $25.5 and a low at $25.1.

Copper prices jumped on Monday, as the US dollar rose against most major currencies, and amid anticipation of the US monthly meeting.

This comes ahead of the US Federal Reserve’s monetary policy meeting, amid anticipation of more clues about the pace of the US inflation and the future of interest rates.

The Fed meeting will launch on Tuesday, and will continue to Wednesday, amid expectations of holding the benchmark interest rate near zero, and will be followed by a press conference from the Fed Chief Jerome Powell.

Copper prices are affected by the global economic activity as the metal is heavily used in many industrial sectors.

The dollar index fell against a basket of major currencies by 0.4% to 92.5 points as of 13:48 GMT, after hitting a high of 92.9 points and a low of 92.5 points.

As of 13:47 GMT, copper September futures rose 4% to $4.57 a pound, with a day high at $4.58 and a low at $4.41.

Oil prices rose on Friday, while the US dollar fell against its counterparts, amid renewed global demand concerns.

Efforts to contain the coronavirus pandemic are continuing around the world, especially after the emergence of the new highly spreading Delta variant.

Baker Hughes revealed on Friday that the US drilling and exploration rigs rose 7 rigs last week.

The dollar index fell against a basket of major currencies by 0.4% to 92.5 points as of 15:19 GMT, after hitting a high of 92.9 points and a low of 92.5 points.

As of 15:13 GMT, WTI crude August futures fell 0.5% to $71.6 a barrel, after hitting a high of $72.4 and a low of $70.5.

Brent September futures fell 0.2% to $73.9 a barrel, after hitting a high of $74.5 and a low of $72.7.

US stock indices held in early trading on Monday, ahead of the Federal Reserve's meeting and amid anticipation of further earning reports.

This comes ahead of the US Federal Reserve’s monetary policy meeting, amid anticipation of more clues about the pace of the US inflation and the future of interest rates.

The Fed meeting will launch on Tuesday, and will continue to Wednesday, amid expectations of holding the benchmark interest rate near zero, and will be followed by a press conference from the Fed Chief Jerome Powell.

Major US companies will start announcing their Q2 business results this week, led by Tesla, Apple, Facebook and Amazon.

As for stocks, Dow Jones fell 0.2% or 77 points to 34,985 as of 14:13 GMT, and S&P 500 fell less than 0.1% or 3 points to 4,408, while Nasdaq rose 0.1% or 11 points to 14,850.