"Silver prices declined for a third consecutive session on Tuesday, as investor focus shifted to recent statements from Federal Reserve officials and signs of easing US-China trade tensions. Fed officials, including Mary Daly and Lisa Cook, emphasized a data-dependent stance ahead of the December meeting. While both expressed support for the latest 25 bps cut, they cautioned that further moves would depend on incoming economic indicators."
"Investors turn their attention to the release of key data points such as ADP employment and ISM PMI, coupled with several Fed officials' speeches, which affect sentiment and the direction of the market. On the supply front, domestic silver production in China dropped 3.55% in October, which could help support the market to a certain extent. While the market is expected to remain in a deficit, the latter could narrow, limiting the support for the asset over a longer time span"
Silver prices declined for a third consecutive session as investor focus shifted to Federal Reserve officials' statements and easing US-China trade tensions. Mary Daly and Lisa Cook emphasized a data-dependent stance ahead of the December meeting and supported the recent 25 basis-point cut while warning that further easing would depend on incoming economic indicators. Market participants are awaiting ADP employment and ISM PMI releases alongside several Fed speeches, which could shape sentiment and price direction. Chinese domestic silver production fell 3.55% in October, maintaining an expected market deficit that may narrow and thus limit long-term support for silver.
Read at London Business News | Londonlovesbusiness.com
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