Silver Stabilizes at $48.8 as Impact of US-China Tensions Eases
Silver Stabilizes at $48.8 as Impact of US-China Tensions Eases
Silver prices stabilized around $48.8 per ounce on Monday (November 3rd) after experiencing high volatility last week. Investors are now focused on the Federal Reserve's policy outlook after the Fed cut interest rates by 25 basis points last week. Although Chairman Powell stated that further interest rate increases in December are uncertain, the market is awaiting the release of key US data, such as the ADP employment data and the ISM PMI report, for further guidance.
In addition, easing trade tensions between the US and China have also reduced demand for silver as a safe-haven asset. The White House announced that China would suspend rare earth metal export controls and halt investigations into US semiconductor companies, while the US would halt certain tariffs and cancel 100% levies on Chinese exports. These decisions have slightly reduced market uncertainty, although silver briefly reached a record high last month before experiencing a correction due to profit-taking. (az)
Source: Newsmaker.id
