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Indonesia News Portal for Traders | Financial & Business Updates

18 October 2024 11:41  |

SILVER

Silver prices climbed above $31.50 per ounce in mid-October, supported by a drop in Treasury yields and mirroring gains in gold.

The decline in 10-year Treasury yields, driven by weak U.S. manufacturing data, boosted the appeal of non-yielding assets like precious metals. Investors are also focused on upcoming U.S.

economic data, which could signal the Federal Reserve's next move on interest rates. The Fed is anticipated to implement rate cuts in its two remaining meetings this year, aiming to support a slowing economy, even as the labor market shows some resilience.

Furthermore, central banks such as the ECB, BoE, BoC, SNB, and PBoC have also cut rates, making it less costly to hold non-yielding assets like gold. (Cay)

Source: Trading economi

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