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Silver Steadied As Investors Await Fed Updates On The Timing Of Interest Rate Cuts.
Silver experienced a slight dip of -0.05%, settling at 72342, as investors awaited updates on the U.S. Federal Reserve’s policy meeting, particularly regarding the timing of potential interest rate cuts. The geopolitical landscape added to the precious metal’s appeal as US President Joe Biden promised retaliation for attacks on US forces near north-eastern Jordan, even as Iran denied involvement in the aerial drone strikes. This escalation in tensions increased the attractiveness of safe-haven assets, while riskier assets faced headwinds. On the economic front, the JOLTS report unexpectedly revealed a rise in job openings to 9 million, reflecting positive signs in the labour market.
