Silver prices showed some strength this morning, as market participants shifted their attention to the precious metal as a safe-haven asset following the dismissal of Federal Reserve Chair Lisa Cook. This action has undermined investor confidence in the independence of the US central bank and weakened the dollar.
Demand for safe-haven assets such as gold and the yen has increased, driving the dollar index lower and increasing expectations of faster interest rate cuts. Due to the weakening dollar, silver has again found support from investors seeking a safe haven.
Source: Newsmaker.id
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