Silver prices were steady on Wednesday, pressured slightly by a stronger dollar and rising Treasury yields. The move came as strong US economic data reduced the chances of further interest rate cuts by the Federal Reserve. Silver, along with other safe-haven assets, also benefited from uncertainty ahead of US President-elect Donald Trump's inauguration on January 20 and confusion over his tariff plans. In addition, silver gained support from hopes that China, the world's top consumer of the metal, would follow through on its promise to increase monetary and fiscal stimulus to boost...
Gold steadied after a two-day advance as traders weighed the outlook for the Federal Reserve's easing path ahead of key jobs figures due later in the week. Gold bullion traded up 0.5% on Wednesday as a report showed U.S. private-sector hiring and wage growth slowed in December. The Fed will need to balance that with renewed inflation fears when deciding whether to cut interest rates, with the central bank's minutes from last month's meeting reiterating a more cautious approach to easing.As of this writing, gold is trading at $2,660 Source: Newsmaker.id
Silver prices are holding in positive territory near their highest level in three weeks as investors absorb the Fed's cautious stance on interest rate cuts.The Fed's uncertainty about inflation and proposed tariffs under President-elect Trump have kept market participants on edge, strengthening demand for silver as a safe haven asset. In addition, strong industrial demand for silver, driven by its important role in renewable energy and electronics technologies, has further boosted its value.Supply constraints, including labor strikes and operational disruptions in mining, have exacerbated...