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Indonesia News Portal for Traders | Financial & Business Updates

27 November 2024 03:39  |

Silver prices were up over 1% trading above $30.4 per ounce

Silver prices were up over 1% trading above $30.4 per ounce on Tuesday, holding onto earlier gains following the release of the latest FOMC minutes. The minutes highlighted officials’ confidence in easing inflation and a resilient labor market, reinforcing the case for gradual interest rate cuts despite inflation remaining above the 2% target.

However, uncertainty lingers over inflation trends and fiscal policies, including proposed tariffs Market sentiment improved further with the nomination of Scott Bessent as US Treasury Secretary, who emphasized a phased approach to tariffs and reassured that the administration’s goal is not to stoke inflation.

Meanwhile, President-elect Trump reaffirmed plans for additional tariffs on China, Mexico, and Canada, fueling concerns over global trade tensions. Silver fell over 3% in the previous session as demand for safe-haven assets waned amid reports of a potential ceasefire agreement between Israel and Hezbollah, easing Middle East tensions.(cay)

Source : Trading Economi

 

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