Silver Hovers Near 14-Year High
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Silver climbed to around $41.8 per ounce on Friday, holding near its strongest levels since 2011 as signs of a cooling US labor m
Silver climbed to around $41.8 per ounce on Friday, holding near its strongest levels since 2011 as signs of a cooling US labor market reinforced expectations for a Federal Reserve rate cut.
The latest ADP report showed private payrolls rose just 54K in August, well below forecasts, while jobless claims reached their highest since June, pointing to further weakness. Investors now await the August jobs report
Markets are pricing in nearly 100% odds of a 25 basis point cut on September 17. Safe-haven demand also underpinned bullion amid concerns over Fed independence, trade frictions, and geopolitical tensions. On the industrial side, silver demand stayed firm, supported by China’s solar boom, with solar cell exports surging more than 70% in the first half of the year, led by strong shipments to India.
Source: Trading Economics
