The demand for a haven amid heightened war and inflation risks propelled Silver Rose

Due to increased demand for safe-haven assets amid rising geopolitical tensions and worries about inflation threats, silver prices increased by 0.56% Wednesday, closing at 75650. Before the U.S. elections, investors sought solace in silver due to rising prices and inflation, which complicated the Federal Reserve’s ability to manage economic stability through policy actions.

Economic data, however, painted a contradictory image. With drops in industrial and wholesale inventories offsetting gains in retail stocks, U.S. business inventories were flat in January. The New York Federal Reserve reported a steep fall in manufacturing activity in the New York region in March, which was a considerable contraction from the number for February.

In terms of inflation, February saw a small increase in U.S. import prices due to a spike in the price of petroleum products, though this was somewhat offset by moderate increases elsewhere. The inconsistent data indicates that the Federal Reserve will continue to face difficulties managing inflationary pressures.

After private traders took advantage of reduced taxes by buying substantial quantities from the UAE, banks in India stopped importing silver. The dynamics of supply and prices for silver may be affected by this market disturbance.

Leave a Reply

Your email address will not be published. Required fields are marked *