Silver closes lower, but is making 5.5% monthly gain


Silver closes lower, but is making 5.5% monthly gain

Silver prices declined during trading on Friday, amid a widespread rise in the dollar against most of the major currencies, and the precious metal recorded weekly losses, but made monthly gains.

US data showed that the personal income index of citizens rose by 21.1% in March, while consumer spending rose by 4.2% during the same period.

The companies “Apple”, “Microsoft”, “Amazon”, “Facebook” and “Tesla” have all announced this week strong business results for the first quarter, while “Twitter” recorded disappointing business results.

Concerns are still prevalent in global markets as a result of the exacerbation of the Corona pandemic crisis, especially in India, which suffers greatly from the acceleration of injuries and deaths.

On the other hand, the dollar index rose (against a basket of major currencies) by 20:47 GMT by 0.7% to 91.2 points, and recorded the highest level at 91.3 points and the lowest level at 90.5 points.

At the close of trading, silver futures for July delivery decreased by 0.8%, or the equivalent of 21 cents, and the precious metal closed at $ 25.87 an ounce, and recorded weekly losses of 0.8%, while it achieved monthly gains of 5.5%.


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