Silver Steady, Market Focus on Fed Policy
Silver prices traded steadily near US$38.00 per troy ounce on Wednesday, maintaining the positive momentum from the previous session. Investors and market analysts are awaiting US President Donald Trump's decision regarding the appointment of new members of the Federal Reserve Board of Governors, which could influence the direction of monetary policy and market sentiment toward this precious metal.
Market sentiment toward silver is driven by expectations that the Fed will continue its monetary easing policy, including the possibility of further interest rate cuts. This expectation arose after US economic data showed signs of slowdown, which could prompt the central bank to take stimulative measures to support economic growth.
Source: Newsmaker.id