Silver Prices Stay as U.S. Dollar Return from Four-Month Below
Silver prices edged lower Wednesday, as demand for precious metals softened on improved risk sentiment and a rebounding U.S. dollar. May silver futures fell 9 cents, or 0.5%, to $18.17 a troy ounce at 7:45 a.m. ET. Prices saw no upside Wednesday, and traded within a narrow range of $18.06 and $18.21. Gold futures also traded lower through the early part of Wednesday, but were well off session lows. The June contract was last down $3.20, or 0.3%, at $1,255.70 a troy ounce. The U.S. dollar was on track for back-to-back gains after rebounding from four-month lows on Tuesday. The dollar index, a measure of the greenback against a basket of other major currencies, was up 0.1% at 99.81 through the early part of the day. Risk sentiment returned to the financial markets on Tuesday as upbeat economic data and hope of renewed stimulus from U.S. President Donald Trump lifted investors’ sentiment. The S&P 500 Index rose 0.7%, while the Dow Jones added 0.7% to snap an eight-day losing streak. U.S. equities were trading mixed-to-lower in the futures market on Wednesday, pointing to a soft start to the day on Wall Street. A string of Federal Reserve speakers will make headlines for the remainder of the week. On Wednesday, Fed Bank presidents Charles Evans (Chicago), Eric Rosengren (Boston) and John Williams (San Francisco) are scheduled to speak. FOMC members Loretta Mester, Robert Kaplan and Neel Kashkari are also due to make public appearances in the latter half of the week.
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Oil prices slid nearly 1 percent as worries about rising U.S. supplies outweighed OPEC pledges to boost compliance with output curbs.
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The Energy Information Administration (EIA) reported that natural gas in underground storage fell by 89 billion cubic feet ((bcf)) in the week endi... read more ...
Silver Price Equal Off with Notable Support
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BENGALURU, FEB 27:
Gold prices held firm on Monday near 3-1/2 month highs hit in the previous session, with investor...
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