Silver price outperforms gold as market bets on Fed rate hike pause

  • 📰 KitcoNewsNOW
  • ⏱ Reading Time:
  • 32 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 16%
  • Publisher: 78%

Business News News

Business Business Latest News,Business Business Headlines

Silver price outperforms gold as market bets on Fed rate hike pause silver Fed dollar

- The silver market continues to be sensitive to gold’s price action; however, the volatility in the marketplace shows what kind of potential the grey metal has when gold prices start to rally.

September silver last traded at $24.975 an ounce, up nearly 2% on the day. At the same time, December gold futures last traded at $2,009 an ounce, up 0.50% on the day. Economists and analysts have said that weaker inflation data gives the Federal Reserve room to halt its tightening cycle. According to the CME FedWatch Tool, markets see a 79.5% chance that interest rates will remain unchanged in September.

Precious metals analysts at Heraeus said that silver could see robust industrial demand as the U.S. Department of Energy looks to spend $45 million to develop domestic manufacturing with the solar power sector.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 13. in BUSİNESS

Business Business Latest News, Business Business Headlines