Silver rose above $49 per ounce on Wednesday, recouping some losses after tumbling around 7% in the previous session as a wave of profit-taking gripped the market following this year's strong rally.
The drop marked the steepest one-day fall since September 2011, leaving the metal down roughly 10% from record highs hit last week. Safe-haven metals also faced pressure as risk appetite improved, supported by easing US-China trade tensions and hopes for an end to the US government shutdown.
US President Donald Trump said he expects to reach a favorable trade deal with China but cautioned that his anticipated meeting with Chinese President Xi Jinping may not happen. Traders now await Friday's key US inflation report ahead of a widely expected Federal Reserve rate cut next week.
Source: Trading Economi
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