Silver slipped below $50 per ounce on Friday, falling for a second consecutive session amid expectations that the US Federal Reserve will refrain from cutting interest rates in December as policymakers navigate economic uncertainties.
The delayed US nonfarm payrolls report released on Thursday showed mixed signals, with employment growth accelerating in September, but the unemployment rate rose to 4.4%, the highest in four years. This report will serve as the final labor market data ahead of next month's FOMC meeting, as the BLS said it will skip the regular October employment release and fold those figures into the delayed November report.
Additionally, Fed Governor Michael Barr cautioned that the central bank must proceed carefully on further rate cuts, with inflation still running above target. The white metal is on track to lose over 1% for the week.
Source: Trading Economi
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