Silver Holds Above $52, Nearing Record High
Silver edged higher above $52, nearing a record high, as investors sought safe-haven assets ahead of today's Federal Reserve meeting minutes and Thursday's pending U.S. employment report, both closely watched for clues on the future direction of interest rates.
The Fed minutes are expected to reveal disagreements among policymakers over the need for further policy easing, while the jobs report is expected to show the U.S. economy added about 50,000 jobs in September, following earlier data showing unemployment benefits reached a two-month high in October.
Expectations for a rate cut next month have declined, with traders now pricing a 46% probability, down from 63% last week. Meanwhile, physical factors are also supporting silver prices. The wedding season in India is boosting physical demand, while concerns over potential U.S. tariffs on silver have added another layer of uncertainty, bolstering the precious metal's appeal as a safe haven. (alg)
Source: Trading Economics
