Silver Holds Gains Above $48
Silver held above $48.5 per ounce on Friday and has the potential to close the week slightly higher. Demand for safe haven assets strengthened as market volatility increased, while US stocks retreated from record highs following a sell-off in the technology sector.
On the policy front, the Fed cut interest rates 25 basis points earlier this week, but Chairman Jerome Powell emphasized that another cut in December would not be automatic. The Trump-Xi meeting yielded some trade concessions, but without any major surprises that would lift the market.
Silver market liquidity also improved. Silver lease rates in London fell from record highs, indicating liquidity pressures are easing.
Earlier this month, silver briefly broke an all-time high due to a short squeeze and tight liquidity in London, then corrected due to profit-taking. For now, prices are likely to remain within a higher range while awaiting a clear direction from the Fed's policy and developments in US-China relations. (asd)
Source: Newsmaker.id
