Silver remained near $32 per ounce
Silver remained near $32 per ounce, after the Fed lowered the benchamak rate by 25 basis points to 4.5%-4.75%, as expected. During the press conference, Fed Chair Powell stated that, in the near term, the election “will have no effect” on Fed decisions. Powell also noted that stronger-than-expected economic data has reduced "downside risks" but declined to comment on its impact on December's policy plans. Still, markets are pricing a backdrop of higher interest rates by the Federal Reserve as newly elected US president policies are set to focus on raising tariffs, lowering taxes, and deregulation that fuel expectations of larger deficits and inflation. The silver fell by more than 3% on Wendesday as Donald Trump’s U.S. presidential victory strengthened the dollar and prompted investors to unwind safe-haven gold position (Cay)
Source: Trading economi
