Silver held below $30.5 an ounce on Tuesday (12/17) after facing heavy selling pressure in recent sessions, weighed down by concerns about a more measured pace of easing from the U.S. Federal Reserve next year. The Fed is widely expected to deliver a 25 basis point interest rate cut this week, but may signal fewer cuts for 2025 amid concerns about a potential resurgence in inflation. Silver and other metals are also facing pressure from ongoing demand uncertainty in China, the world's largest consumer of the metal.
Earlier this week, data showed that China's retail sales growth slowed more than expected in November, reflecting weaker consumption. Additionally, new home prices fell for a 17th straight month, highlighting ongoing challenges in the property sector. Meanwhile, Beijing's latest stimulus pledges have failed to generate significant investor optimism, largely due to a lack of details on the potential size and scope of the rescue package.
Source: Trading Economics
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