Silver Tracks Gold on Fed Rate-Cut Bets, Weak U.S. Data
Silver prices soar, tracking gold's gains as the market continues to price in a December Fed interest-rate cut and signs of U.S. economic weakness.
"Elevated volatility in silver has been a recurring theme this year, but the broader pattern of strong demand, tightness in parts of the physical market, and speculative rebuilds has kept the medium-term trend intact," Saxo Bank analysts say. "With bond markets increasingly pricing discomfort rather than optimism, and with the Fed likely to lean more dovishly should incoming data remain weak, the investment case for metals remains well-anchored."
Futures in New York rise 3.3% to $49.74 a troy ounce, while spot silver is up 3.2% to $49.90.
Source: Dow Jones Newsires
