Today's decline in silver prices was primarily driven by the strengthening of the US dollar and rising US Treasury yields. Solid US economic data and hawkish statements from central bank officials fueled expectations that interest rate cuts would be slower than market expectations. This increased the appeal of interest-bearing assets and put pressure on non-yielding precious metals like silver, leading investors to engage in short-term selling. In addition to monetary factors, pressure also came from profit-taking following the previous strong rally. Although silver remains supported by...
Gold today tended to move slightly around $4,300/oz as the market "held its breath" after the release of US data and awaited the next trigger. Buyers are still present, but many traders are reducing risk due to the busy week ahead.Fundamentally, gold still has support from signals that the US labor market is cooling (unemployment is rising), which keeps the possibility of future interest rate cuts open—this is usually positive for gold. However, the rise could be restrained if news of Russia-Ukraine peace strengthens (safe havens are reduced) or if US inflation comes out higher and pushes...
Silver prices moved within a limited range as investors weighed weak US employment data, which was not enough to fuel expectations of an imminent interest rate cut. The Federal Reserve's cautious stance has kept buying interest in silver from strengthening, although the precious metal remains supported by global economic uncertainty. On the other hand, the relatively stable US dollar and the lack of significant decline in bond yields have restrained silver's movement. The market is now awaiting the release of inflation data and statements from Fed officials to determine whether silver will...