Silver loses ground, dollar off 7-week high

2018-10-11 08:51:40 GMT (Economies.com)
Silver loses ground, dollar off 7-week high

Silver futures tilted lower in Asian trade even as the dollar index lost ground away from August 20 highs, ahead of US inflation data later today while markets await the G20 summit in Bali, expected to include discussions on global growth and trade. 

 

As of 05:04 GMT, silver futures due in December dipped 0.18% to $14.30 an ounce, while the dollar index dropped 0.31% to 95.21, marking October 1 lows. 

 

Markets have been roiled as US stock indices slumped over 3% yesterday, marking the worst performance in eight months. 

 

Now investors await US consumer prices data, expected with a 0.2% increase, while analysts expect a 2.4% yearly increase, slowing down from 2.7% in August. 

 

Core prices are estimated with a 0.2% increase, up from 0.1% in August, while analysts expect a 2.3% yearly increase, up from 2.2%, as unemployment claims are estimated to have increased 3 thousand last week to 210K. 

 

In a Pennsylvania rally, US President Trump said the Federal Reserve has gone "crazy" with its latest rate hikes, while noting that stocks are undergoing a normal correction after a succession of record highs. 

 
 
 
  Symbol Last Change Chg.%
1.1469
-0.0053
0.4630%
1.2993
-0.0079
0.6059%
14.742
0.108
0.742%
68.844
-0.436
0.630%
79.28
-0.55
0.69%
1233.705
7.000
0.571%
 
 
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