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