Silver Prices Eased From Fresh Lows For The Year As The Dollar Turned Negative

Silver prices eased from fresh lows for the year as the dollar turned negative on weaker U.S. economic data. The US dollar index slipped and closed at 94.85 overnight with weaker-thanexpected US economic indicators. 

US treasury yields also fell. US initial claims for state unemployment benefits decreased 3,000 to a seasonally adjusted 218,000 for the week ended June 16, compared with the expected 220,000. 

Claims have now declined for four weeks in a row, pointing to a further tightening of the labour market. The four-week moving average of initial claims, a better measure of the labour market trends as it irons out week-to-week volatility, dropped 4,000 to 221,000 last week.

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