Silver Rises on Safe Haven Demand
Silver rose toward $34 per ounce on Tuesday, tracking gold prices higher as uncertainty surrounding the US presidential election and Middle East tensions continued to drive safe-haven demand for precious metals.
Israeli strikes on Lebanon’s eastern Bekaa valley left at least 60 people dead and dozens wounded amid ongoing violence in the region. The rally in the US dollar and Treasury yields also stalled as investors geared up for key US economic data this week, providing some relief to commodity prices.
Meanwhile, investors look ahead to the meeting of the National People’s Congress scheduled on Nov. 4-8 for potential announcements on additional stimulus measures from Beijing.
Source: Trading Economics