Silver Rises for 2 Days, Market Surge After Crash
Silver prices rose again for a second session on Monday. The white metal rallied more than 2% and moved closer to $80 per ounce, after previously surging around 10% in the previous session. Buying emerged because many market participants viewed silver prices as still at a discount following a major sell-off that nearly halved its value.
Sentiment from Japan also added fuel. The landslide victory of Prime Minister Sanae Takaichi's coalition in the weekend election opened the door to a more expansive fiscal policy. Expectations of higher government spending and pressure on the yen have revived interest in hard assets like precious metals.
From the Middle East, the US and Iran held talks in Oman on Friday to ease tensions, although Tehran continues to refuse to halt nuclear fuel enrichment. This situation has calmed the market somewhat, but is still enough to maintain investor vigilance regarding geopolitical risks.
This week, market focus will also turn to US economic data, particularly the employment and inflation reports, which could provide clues to the direction of the Fed's policy. Meanwhile, US Treasury Secretary Scott Bessent assessed that last week's extreme volatility in precious metals was triggered by the actions of Chinese traders, and called yesterday's price peak a speculative explosion. (asd)
Source: Newsmaker.id
