Silver Prices Dropped Undermined By A Firmer Dollar Following Strong U.S. Economic Data

Silver prices dropped undermined by a firmer dollar following strong U.S. economic data. The dollar was boosted by data that showed U.S. consumer spending increased in July. 

The greenback, which also tends to attract safe haven bids in times of market turmoil and political tensions, drew its latest swell of support as investors braced for the next round of the U.S.-China trade conflict. 

U.S. President Donald Trump is prepared to quickly ramp up a trade war with China and has told aides he is ready to impose tariffs on $200 billion more in Chinese imports as soon as a public comment period on the plan ends next week.

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