Silver Hovers at 2-Month High
Silver climbed above $31 per ounce in mid-September, hitting its highest levels in two months following an outsized rate cut from the Federal Reserve this week.
The US central bank kicked off its easing campaign with a large 50 basis point rate cut in September and signaled further rate reductions, with two more quarter-point cuts seen for the remainder of the year. The move raised hopes of a soft landing for the US economy as inflation returns to target, while increasing the likelihood of policy easing in other major economies.
Meanwhile, top consumer China unexpectedly kept key lending rates unchanged this week even as the Fed's aggressive rate cut provided room to ease policy. However, markets still expect Chinese policymakers to introduce more stimulus to prop up the economy following a series of disappointing economic data for August.
Source : Trading Economics
