Silver Slides Below $50
Silver fell beneath the $50-per-ounce threshold, pressured by a stronger US dollar and fading expectations of a Federal Reserve rate cut next month.
Traders are now focused on a series of key US data releases following the end of the country’s longest-ever government shutdown, including Thursday’s September jobs report, for clearer insight into labor-market conditions.
Markets are pricing roughly a 40% chance of another Fed cut in December, down sharply from near 100% immediately after the September decision, amid the recent lack of government data and growing divergence among FOMC policymakers. On Monday, Fed Vice Chair Philip Jefferson reiterated that the central bank must move cautiously on future easing.
Still, supply-side factors continue to offer some support for the white metal. India’s wedding season is boosting physical demand, while concerns over potential US tariffs on silver have added an additional layer of unease to the outlook.
Source: Tradingeconomics.com
