Silver off two-week high as dollar glides from two-month high

Silver futures tilted lower in American trade away from October 2 highs, as the dollar index plumbed September 27 lows, following earlier data from China, the world's largest metals consumer, and the US. 

As of 05:59 GMT, silver futures due in December fell 0.18% to $14.70 an ounce away from two-week highs, while the dollar index inched down 0.03% to 95.03 away from August 20 highs. 

Earlier Chinese data showed consumer prices rose 2.5% as expected, the fastest such pace in seven months. 

Producer prices rose 3.6 y/y, the slowest such pace in five months, and missing estimates of 3.7%. 

Last week, the People's Bank of China cut reserve requirements for Chinese banks for the fourth time this year amid attempts to ease policies and bolster spending. 

Otherwise, earlier US data showed industrial output rose 0.3% in September, slowing down from 0.4%, while the Capacity Utilization Rate stood at 78.1%, same as before and below estimates of 78.2%. 

Silver marked the best daily performance last Thursday since September 28, but still sustained the second weekly loss in a row, weighed down by US-China trade worries.