• Sat, Feb 28, 2026|
  • JKT --:--
  • TKY --:--
  • HK --:--
  • NY --:--

Indonesia News Portal for Traders | Financial & Business Updates

16 October 2024 08:28  |

Silver prices climbed to $31.50 per ounce in mid-October

Silver prices climbed to $31.50 per ounce in mid-October, supported by a drop in Treasury yields and mirroring gains in gold.

 The decline in 10-year Treasury yields, driven by weak U.S. manufacturing data, boosted the appeal of non-yielding assets like precious metals. Investors are also focused on upcoming U.S. economic data, which could signal the Federal Reserve's next move on interest rates.

Meanwhile, traders assessed China’s latest stimulus measures aimed at boosting its economy. In a weekend briefing led by Finance Minister Lan Foan, the government promised increased borrowing to support the property sector, subsidies for low-income households, and additional capital for state banks, though details on the package's size were scarce.

 Markets had been expecting a significant fiscal stimulus, estimated between 2 to 10 trillion yuan. (Cay)

Source: Fxstreet

Related News

SILVER

Silver (XAG) Daily Forecast: Strong Indian Demand and Dutie...

Silver prices rise above $31.00, fueled by robust Indian festive demand and a significant reduction in import duties from 15%...

24 September 2024 16:20
SILVER

Silver climbed toward $31

Silver climbed toward $31, hitting a two-month high amid rising expectations that the Federal Reserve will opt for a more agg...

17 September 2024 15:29
SILVER

Silver Climbs Ahead of Expected Rate Cuts

Silver climbed toward $29 per ounce, extending recent gains in the lead up to expected interest rate cuts from major central ...

12 September 2024 13:43
SILVER

Silver Gains as Dollar Weakens

Silver rose toward $29 per ounce, hovering near a one-week high as the dollar retreated on weak US labor market data which pr...

6 September 2024 13:11
BIAS23.com NM23 Ai