Silver fell below the $50 per ounce threshold, pressured by a stronger US dollar and fading expectations of a Federal Reserve interest rate cut next month. Traders are now focusing on a series of key US data releases following the end of the country's longest government shutdown, including the September employment report on Thursday, for clearer insight into labor market conditions.
The market is pricing in a roughly 40% chance of another Fed rate cut in December, down sharply from nearly 100% immediately after the September decision, amid a lack of recent government data and growing dissent among FOMC policymakers.
On Monday, Fed Vice Chairman Philip Jefferson reiterated that the central bank must be cautious in easing policy going forward. However, supply-side factors continue to support the white metal. The wedding season in India is boosting physical demand, while concerns over potential US tariffs on silver have added to concerns about the economic outlook. (alg)
Source: Trading Economics
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