Silver steadied near $34 per ounce
Silver steadied near $34 per ounce on Thursday in a likely technical rebound, after retreating sharply from 12-year highs and losing over 3% in the previous session.
Those losses came as the dollar and Treasury yields rallied further on growing expectations that the Federal Reserve will take a more cautious approach to further policy easing, with Fed officials dashing any hopes for jumbo 50 basis point rate cuts in the upcoming meetings
Persistent concerns about the US’ growing debt burden and election uncertainties also added to market volatility. In China, traders awaited more stimulus announcements from Beijing in the upcoming meeting of the National People’s Congress Standing Committee. Markets expect a stimulus package of up to 10 trillion yuan as China struggles to achieve full-year growth targets. (Cay)
Source : Trading economi
