Silver Rises After Three-Day Slide
Silver climbed above $47.5 per ounce on Wednesday, snapping a three-day losing streak as global risk-off sentiment boosted demand for safe-haven assets, though a stronger dollar limited upside momentum.
Global equities and other risk assets fell sharply amid mounting concerns over elevated valuations and uncertainty surrounding future US rate cuts. Federal Reserve officials signaled caution toward additional easing, with markets now pricing in a 69% chance of a 25 bps rate cut next month, down from about 90% before last week’s FOMC decision.
Investors are now awaiting private payroll data from ADP for further clues on the policy outlook, as the record-long US government shutdown continues to delay key economic releases. Last month, silver briefly hit record highs amid a short squeeze and liquidity crunch in London before pulling back on profit-taking.
Source : Tradingeconomics.com