  High spin states in $^{103}$Ag were investigated with the Gammasphere array,
using the $^{72}$Ge($^{35}$Cl,$2p2n$)$^{103}$Ag reaction at an incident beam
energy of 135 MeV. A $\Delta J$=1 sequence with predominantly magnetic
transitions and two nearly-degenerate $\Delta J=1$ doublet bands have been
observed. The dipole band shows a decreasing trend in the $B(M1)$ strength as
function of spin, a well established feature of magnetic bands. The
nearly-degenerate band structures satisfy the three experimental signatures of
chirality in the nuclei; however microscopic calculations are indicative of a
magnetic phenomenon
