Silver prices rose on Tuesday, supported by optimism over a potential U.S. Federal Reserve rate cut in December and a weakening dollar. The metal traded above a key pivot at $31, which sparked buying interest and short covering. However, the rally faces resistance levels that could limit gains in the near term.
The market is increasingly pricing in a 73% probability of a 25-basis-point rate cut at the Federal Reserve's December meeting, up from 66% on Monday. This sentiment followed comments from Fed Governor Christopher Waller, who expressed support for easing monetary policy due to inflation trends. UBS expects an additional 100 basis points of cuts through 2025, further enhancing the appeal of non-yielding assets like silver.
The benchmark 10-year Treasury yield, while ticking up slightly, remains near its lowest level since October, while the U.S. dollar fell 0.2%. These factors combined to make silver more attractive to investors seeking a hedge against economic uncertainties.
Silver is currently up 1.7% at $31,022/Toz.
Source: newsmaker
Silver opened at 43,958 at the start of the Asian session, holding near its highest level in over 14 years. Market sentiment remains positive after the Fed cut interest rates last week, which has incr...
Gold prices are stable amid global sentiment still influenced by the Federal Reserve's policy direction. Expectations of a US interest rate cut are the main driver, with investors continuing to seek g...
Silver prices continue to demonstrate resilience, holding near 14-year highs. This precious metal is supported by a combination of fundamental factors, ranging from expectations of a US interest rate ...
Oil prices fell for the fifth straight day, the longest losing streak since early August. Pressure arose from signals that global supply will increase and potentially create a surplus in the fourth qu...
Gold rose on market expectations that the Fed would cut interest rates again after weak US economic data and core inflation remained above target. This condition pressured the dollar and prompted inve...
Stocks in Hong Kong edged up 27 points, or 0.1%, to 26,186 in Wednesday morning trade, trying to reverse losses from the prior two sessions as most sectors advanced. Bargain hunting, particularly in property stocks, helped lift the market from its...
Japanese indexes corrected on Wednesday, with the Nikkei 225 down 0.1% to ±45,450 and the Topix down 0.5% to 3,147, erasing the previous session's gains. Pressure came from Wall Street, which retreated from record highs after Fed Chairman Jerome...
Silver opened at 43,958 at the start of the Asian session, holding near its highest level in over 14 years. Market sentiment remains positive after the Fed cut interest rates last week, which has increased the demand for non-yielding assets like...
Asia-Pacific markets traded higher Monday, tracking Wall Street's gains on Friday stateside, as investors awaited China's key lending rate decision...
Reserve Bank of Australia (RBA) Governor Michele Bullock said that economic data since the August meeting has been slightly better than expected....
India's Trade Minister Piyush Goyal will visit Washington today, September 22, to push forward a long-pending trade deal, following renewed talks...
Economic activity in the UK's private sector expanded at a softer pace in September than in August, with the S&P Global Composite Purchasing...