Silver prices traded with a positive bias above the $32.00 level during the Asian session on Thursday and remained close to the one-month highs hit earlier this week. Moreover, the technical setup suggests that the path of least resistance for the white metal remains to the upside. Source: Newsmaker.id
Gold (XAU/USD) prices reversed losses in the Asian trading session although they remain below the highest level in more than a month reached on Thursday (12/12). US consumer inflation data released on Wednesday reaffirmed bets that the Federal Reserve (Fed) will deliver a third straight interest rate cut next week. Moreover, persistent geopolitical risks stemming from the Russia-Ukraine war and conflicts in the Middle East, along with concerns about US President-elect Donald Trump's upcoming trade tariffs, continue to act as a tailwind for the safe-haven precious metal.As of this news...
Silver prices rallied again to near one-month highs as the latest US inflation data met expectations, strengthening the case for a Federal Reserve rate cut. The market is now pricing in a near 100% chance of a 25 basis point cut at the Fed's meeting next week. In addition, sentiment was boosted by hopes that Beijing will announce more stimulus measures after a key political meeting. Chinese leaders begin a closed-door Central Economic Work Conference on Wednesday, where they will set economic targets and outline stimulus plans for 2025. Earlier this week, the Politburo committed to a...