Silver plumbs two-week low, dollar slips

2018-10-10 19:06:08 GMT (Economies.com)
Silver plumbs two-week low, dollar slips

Silver futures fell in American trade to September 27 lows, while the dollar index fell off August 20 highs, following earlier data from the US. 

 

As of 06:09 GMT, silver futures due in December fell 0.52% to $14.32 an ounce, marking two-week lows, while the dollar index shed 0.22% to 95.46. 

 

US Inflation Data 

 

Earlier US data showed producer prices rose 0.2% as expected in September, compared to a 0.1% dip in August, while core prices rose 0.2% as well, matching estimates. . 

 

The final reading for wholesale inventories showed a 1% increase, compared to the preliminary reading's 0.8%, and adding to July's 0.6% increase. 

 

US President Donald Trump expressed discontent about the Federal Reserve's path for policy tightening and interest rate hikes, while asserting the independence of the Fed from the government's interference. 

 

US Treasury Secretary Steven Mnuchin warned China from engaging in currency depreciation, adding his department is monitoring the exchange rate very closely and noting that yuan's value has tumbled noticeably this year, which would be a major point of contention in trade negotiations with China. 

 
 
 
  Symbol Last Change Chg.%
1.1466
-0.0056
0.4830%
1.2996
-0.0076
0.5814%
14.688
0.056
0.379%
69.001
-0.281
0.405%
79.32
-0.50
0.63%
1231.325
4.620
0.377%
 
 
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