Silver Dips Below $47
Silver fell below $47 per ounce on Thursday after reaching an intraday high of $48.06. Despite the drop, prices have risen over 44% year-to-date, reflecting strong investor interest amid economic uncertainty. Volatility is driven by industrial demand, global economic indicators, and shifting market sentiment.
Earlier this week, precious metals rallied as the government shutdown—the first in nearly seven years—boosted safe-haven demand and delayed key economic releases, including the September nonfarm payrolls report.
ADP data showed a surprise decline of 32,000 private-sector jobs, reinforcing labor market weakness and supporting bets on further Federal Reserve rate cuts, though Fed’s Goolsbee warned inflation risks could limit easing.
Source : Tradingeconomics.com