Sunday, 07 September 2025
Jakarta
--:--
Tokyo
--:--
Hongkong
--:--
New York
--:--
Silver loses traction below $31.50 as rate cut caution looms
Thursday, 5 December 2024 14:06 WIB | SILVER |SILVER

Silver (XAG/USD) prices moved lower to around $31.20, snapping a two-day winning streak during the early European session on Thursday. The Federal Reserve's (Fed) cautious stance on rate cuts weighed on the white metal.

Federal Chairman Jerome Powell said on Wednesday that the strength of the US economy means the US central bank can afford to be "a little more cautious" about its decisions on interest rate moves. Joseph Brusuelas, chief economist at RSM US, noted that he does not expect further rate cuts after the December meeting until March 2025 at the earliest.

Increasing bets of a less aggressive Fed rate cut could support the greenback and weaken the USD-denominated commodity. The market is now pricing in a 76% chance that the central bank will cut rates by a quarter-point at its December 17-18 meeting, according to the CME FedWatch tool.

On the other hand, the silver market is expected to experience a supply deficit for the fourth straight year due to strong demand. This, in turn, could provide support to silver prices. Carsten Fritsch, precious metals analyst at Commerzbank, said: "Demand for silver for photovoltaics has more than doubled in the past three years and is now almost equal to demand for bars and coins." Fritsch added that rising industrial demand is likely to boost demand for physical silver this year, reaching its second highest level after 2022.

Source: FXStreet

RELATED NEWS
Silver Hovers Near 14-Year High...
Friday, 5 September 2025 12:56 WIB

Silver climbed to around $41.8 per ounce on Friday, holding near its strongest levels since 2011 as signs of a cooling US labor market reinforced expectations for a Federal Reserve rate cut. The lates...

Silver Retreats From 14-Year High on Profit-Taking...
Thursday, 4 September 2025 11:31 WIB

Silver slipped 1% to around $40.7 per ounce on Thursday, easing from 14-year highs as investors locked in profits ahead of key US labor market releases. Precious metals have rallied in recent weeks as...

Silver Holds Near 14-Year High on Safe-Haven Demand...
Wednesday, 3 September 2025 12:18 WIB

Silver traded around $40.7 per ounce on Wednesday, lingering at its strongest level since 2011 as fiscal strains, renewed trade tensions and ongoing geopolitical risks lifted safe-haven demand. Suppo...

Silver Price Forecast: XAG/USD reaches 14-year highs above $40.50 amid safe-haven demand...
Tuesday, 2 September 2025 11:25 WIB

Silver price (XAG/USD) trades near $40.85 per troy ounce, the highest since September 2011, which was marked during the Asian hours on Tuesday. The precious metals like Silver attract buyers amid incr...

XAG/USD consolidates above $40.50 after breakout to 14-year highs...
Tuesday, 2 September 2025 02:13 WIB

Silver (XAG/USD) kicks off the week on a strong footing, with spot prices extending their rally for a fifth consecutive session, breaking above the $40.00 mark to hit fresh 14-year highs — levels last...

LATEST NEWS
US Stocks Fall on Weak Jobs Data

US stocks closed lower on Friday after weaker-than-expected August jobs data raised concerns about a slowing economy, even as expectations for Federal Reserve rate cuts firmed. The S&P 500 gave up earlier gains, ending 0.3% lower and below...

Dollar drops against peers after weaker-than-expected jobs report

The U.S. dollar fell sharply against major peers on Friday after crucial monthly jobs data showed that American employers hired fewer workers than expected, which affirms weakening labor market conditions and likely guarantees a Federal Reserve...

Oil prices settle down more than 2% after weak US jobs report

Oil prices fell on Friday as a weak U.S. jobs report dimmed the outlook for energy demand, while swelling supplies may grow further after OPEC and allied producers meet over the weekend. Brent crude futures settled at $65.50 a barrel, down $1.49,...

POPULAR NEWS
Asia-Pacific markets open higher after Trump formalizes lower Japanese auto tariffs
Friday, 5 September 2025 07:37 WIB

Asia-Pacific markets opened higher Friday after U.S. President Donald Trump signed an executive order Thursday formalizing a lower Japanese auto...

S&P 500 And Nasdaq Hit New Record Highs
Friday, 5 September 2025 20:48 WIB

US stocks rallied on Friday (September 5th), with the S&P 500 rising 0.4% and the Nasdaq gaining 0.6% to new record highs, while the Dow Jones...

US Companies Add 54,000 Jobs In ADP Data, Lower Than Expected
Thursday, 4 September 2025 19:24 WIB

Hiring at US companies was lower than expected in August, consistent with other evidence of weakening labor demand. Private-sector jobs increased...

US Initial Jobless Claims Rise to Highest Level Since June
Thursday, 4 September 2025 19:45 WIB

US applications for unemployment benefits rose to their highest level since June, adding to evidence that the labor market is cooling. Initial...