Silver Holds Decline Ahead of Fed Meeting
Silver held below $30.5 per ounce on Tuesday after facing heavy selling pressure in recent sessions, weighed down by concerns about a more measured pace of easing from the US Federal Reserve next year.
The Fed is widely expected to implement a 25 basis point interest rate cut this week, but it may signal fewer reductions for 2025 due to concerns about a potential resurgence of inflation. Silver and other metals also faced pressure from ongoing demand uncertainty in China, the world’s largest consumer of metals.
Earlier this week, data showed that retail sales growth in China slowed more than expected in November, reflecting weakening consumption. Additionally, new home prices fell for the 17th consecutive month, highlighting ongoing challenges in the property sector.
Meanwhile, Beijing's latest stimulus pledges have failed to generate significant investor optimism, largely due to the lack of details regarding the potential size and scope of rescue packages.
Source : Trading Economics
