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

Indonesia News Portal for Traders | Financial & Business Updates

22 October 2024 19:18  |

Silver Held Advance to Around $34

Silver held its recent advance to around $34 per ounce on Tuesday, hovering at its highest levels in almost 12 years as uncertainties around the US election, simmering Middle East tensions and bets on further monetary easing drove safe-haven demand for precious metals.

Expectations of stronger industrial demand for silver, which is a major component used in solar panels, as the world shifts toward cleaner energy also boosted prices. Moreover, top metals consumer China recently introduced a series of stimulus measures to revive economic growth.

Earlier this week, the People’s Bank of China lowered its one- and five-year loan prime rates by 25 basis points to 3.1% and 3.6%, respectively. On Friday, the PBOC also moved to support China’s equity market and announced that it could lower banks’ reserve requirements again before the year ends.

Source: Trading Economics

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