Silver prices stabilized on Wednesday (August 6th) as expectations of a Fed interest rate cut increased following the release of weaker-than-expected US employment data. Besides its role as a precious metal, silver also received support from the industrial sector, particularly amid a recovery in global manufacturing activity and demand from the renewable energy sector. The weakening US dollar also strengthened silver's position as an alternative hedge, while investors began returning to the precious metals market following stock market volatility and uncertainty over the direction of global...
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...
Gold prices held steady in the $2647 area entering the European trading session today.Traders currently appear reluctant and prefer to wait for further cues on the Federal Reserve's (Fed) interest rate cut signal before positioning themselves for the next move in directional movement. Therefore, the focus remains on this week's important US macro releases, including the closely watched Nonfarm Payrolls (NFP) report on Friday. Source: NewsMaker 23
Silver prices (XAG/USD) fell on Monday (2/12). Silver is trading at around $30 per troy ounce, down 1.1% today. This was driven by the US dollar's rebound due to optimism about the US economic outlook. Meanwhile, investors are now focused on a key political meeting in China this month for potential policy announcements, which could help assess the outlook for the world's top metal consuming nation. Silver price at the time of this news release -1.1% which is at the level of $ 30,277. Source: Newsmaker
Gold prices (XAU/USD) weakened at the start of the week, in the Asian trading session on Monday (2/12). This was due to pressure from the strengthening dollar and profit taking, while investors await key US economic data as a signal regarding the Federal Reserve's monetary policy outlook. This week, key US economic data will be released that could influence market expectations regarding monetary policy. Among the most significant reports are US job openings, the ADP employment report, and the nonfarm payrolls report. In addition to these data points, several Federal Reserve officials,...
Silver (XAG/USD) continued its upward movement around $30.70 during Friday's European session. The upward momentum was largely driven by rising geopolitical concerns. Russian President Vladimir Putin's recent warning of a potential nuclear-capable missile strike on Ukraine, following a large-scale attack on Ukrainian energy infrastructure, has fueled market uncertainty. Meanwhile, the Middle East has seen some stabilization with the ceasefire between Israel and Hezbollah remaining stable. The ceasefire, facilitated by diplomatic efforts from the US and France, has allowed residents to...