Silver held around $30.5 per ounce on Monday
Silver held around $30.5 per ounce on Monday after losing more than 4% over the past two sessions, as investors geared up for the latest US Federal Reserve policy decision this week. The Fed is widely expected to cut interest rates by 25 basis points on Wednesday, but traders scaled back expectations for further easing next year. Silver prices also came under pressure from persistent demand concerns in top consumer China.
Data showed that retail sales in China slowed more than expected in November, indicating weakening consumption. New home prices in the country also declined for the 17th consecutive month in November amid a prolonged property downturn. Meanwhile, the latest policy support promises from Beijing, including pledges of more proactive fiscal stimulus and looser monetary policy failed to excite investors amid the lack of details on the size of potential stimulus.(Cay)
source: Trading economi