Silver slipped below $45 per ounce on Friday, easing from 14-year highs as the dollar strengthened following upbeat US data that tempered bets for deeper Federal Reserve rate cuts. Thursday's reports showed weekly jobless claims fell to 218K, highlighting labor market resilience, while second-quarter GDP growth was revised sharply higher to an annualized 3.8%, the fastest in nearly two years.
Markets still expect a quarter-point Fed cut in October, though easing priced in for the year has narrowed to 39 basis points from about 43 earlier this week. Despite the pullback, silver remains up about 4% this week on firm industrial demand, particularly from photovoltaic panels and electronics where substitution is limited. On the supply side, silver output cannot quickly adjust to higher prices, while smelter and processing disruptions in key refining hubs have tightened refined availability, reduced prompt deliverability and lifted near-term premiums.
Source: Trading Economi
Silver slipped below $47 per ounce on Friday but remained on track for a seventh consecutive weekly gain, supported by expectations of further US rate cuts and uncertainty from the government shutdown...
Silver (XAG/USD) held firm around $47.80/oz during the Asian session on Thursday (October 2), continuing its rally after hitting a new record on Wednesday. The US government shutdown following the Sen...
Silver rose above $47 per ounce on Wednesday, marking a new 14-year high as the US government shutdown fueled safe-haven demand for precious metals after lawmakers failed to reach a temporary funding ...
Silver prices weakened to $46 per ounce on Tuesday (September 30th) after hitting a fourteen-year high of $47.2 earlier in the trading session amid supply risks and a bullish demand outlook for both b...
Silver traded around $47 per ounce on Tuesday and was set to advance almost 20% in September as safe-haven demand strengthened amid the risk of a US government shutdown. The standoff comes as Presiden...
The S&P 500 closed mostly flat on Friday, the Dow Jones extended its record run, rising 240 points finisheing at 46,758 after briefly surpassing 47,000 during the session, while the Nasdaq slipped 0.3% as the US government shutdown entered its...
Federal Reserve (Fed) Bank of Dallas President Lorie Logan struck a nervous tone on Friday, warning that despite a rapidly-weakening labor market, a lot of potential policy moves could accidentally spark another round of renewed inflationary...
If it just seems like the first Friday of the month wasn't the same without being able to pore through the Bureau of Labor Statistics' hotly watched monthly jobs report, don't worry. You probably didn't miss much. While the BLS has gone dark with...
The Institute for Supply Management's (ISM) data showed the Manufacturing PMI edging higher to 49.1 in September, up from 48.7 in August and...
European shares were flat on Wednesday, with gains in heavyweight healthcare stocks offsetting the decline in the broader market, as investors...
The bottom line: The release of official US data is delayed because the federal government is currently in shutdown. While the budget hasn't been...
Asian markets opened higher, following a global rally that pushed world indexes to new records, despite the US entering its first government...