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Indonesia News Portal for Traders | Financial & Business Updates

21 October 2024 08:02  |

Silver prices climbed above $32 per ounce

Silver prices climbed above $32 per ounce on Friday, marching toward a two-week high and tracking a rally in gold prices as uncertainties around the upcoming US election and rising tensions in the Middle East spurred safe-haven demand for precious metals. Former President Donald Trump and Vice President Kamala Harris remained neck and neck just less than three weeks until the November US presidential election, with market predictions slightly favoring a Trump win. In the Middle East, Israeli forces killed Hamas leader Yahya Sinwar, raising fears of a wider regional conflict. Moreover, upbeat economic data in China lifted the demand outlook in the world’s top metals consumer. Elsewhere, the European Central Bank cut rates on Thursday for the third time this year, citing confidence in curbing inflation.(Cay)

Source: Trading Economi

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