Stay updated with the latest developments in the forex market. Here's the most recent news from RobotFX.
Silver rose more than 1% toward $82 per ounce on Wednesday, recouping the prior session’s losses as weak US economic data and eroding confidence in US assets increased safe-haven demand. US retail sales figures released Tuesday showed activity unexpectedly stalling in December, underscoring mounting pressure on consumer spending. Attention now turns to the delayed US January jobs report, where a weaker-than-expected outcome could further bolster precious metals.
Markets are currently pricing in around 60 basis points of Federal Reserve rate cuts by the end of the year. Safe-haven flows have also been supported by a shift away from dollar-denominated assets amid rising concerns over policy uncertainty in Washington. Still, investors remain wary of potential volatility in the metals complex following recent sharp moves, including a speculative rally and a historic sell-off over the past two weeks.
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