Silver costs surged greater than 3% on Monday, extending positive factors for the third straight day, because the US greenback fell in opposition to a basket of main currencies.

Silver costs rose 3.1% to $26.77 an oz., after opening at $25.97 and hitting a low of $25.89.

The valuable steel closed increased by 1% on Thursday, and posted the second straight every day acquire as many of the dollar-denominated metals rose.

Silver costs misplaced 0.25% in the course of the previous week, resulting from profit-taking from a 3-month excessive of $27.40.

The US greenback index fell by 0.3% at this time, deepening its losses for the third day in a row in opposition to a basket of main currencies, which lifts the costs of gold and different dollar-denominated metals.

This got here as demand for the US greenback slowed resulting from sturdy sentiment after the US handed a brand new fiscal stimulus package deal.

US President Donald Trump signed on Sunday the brand new $2.3 trillion help package deal to ease the coronavirus influence and forestall a partial federal authorities shutdown.