Silver price (XAG/USD) extends its losses for the second consecutive day, trading around $29.90 per troy ounce during the Asian session on Thursday.
Silver price depreciates due to safe-haven flows diminishing amid easing Middle-East tensions. A ceasefire between Israel and the Lebanese armed group Hezbollah was successfully upheld on Wednesday. Dollar-denominated Silver faces headwinds as an improved US Dollar increases its cost for buyers using other currencies, potentially dampening demand. Silver price extends its losses for the second consecutive day, trading around $29.90 per troy ounce during the Asian session on Thursday.
1% chance that the Fed will cut rates by a quarter point in December, up from 59.4%, a day ago. Nonetheless, they anticipate the Fed leaving rates unchanged at its January and March meetings. Silver FAQs Why do people invest in Silver? Silver is a precious metal highly traded among investors. It has been historically used as a store of value and a medium of exchange.
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