Silver Price Week Ahead: Below $50 After an 18% October…
By Abdelaziz Fathi
AI summary of the source article
COMEX December silver futures fell over 18% in October, settling at $49.276 an ounce. The decline coincided with rising US interest rate expectations and a broader precious metals selloff.
Why it matters
Higher expected interest rates can increase Treasury yields and support the US dollar, raising the opportunity cost of holding non-yielding assets such as silver and gold.
Key facts
- December silver futures settled at $49.276 per troy ounce on October 30, down 18.34% for the month.
- December gold futures fell 6.9% in October to settle at $3,898.90, pushing the gold-to-silver ratio to roughly 79.1.
- The Federal Reserve held rates at 3.75%-4.00% on October 28, though two officials voted for an immediate quarter-point increase.
Source excerpt · FinanceFeeds
Silver prices enter the first week of November below $50 an ounce after COMEX December futures settled at $49.276 on Friday, October 30, down 5.93% for the session and approximately 18.34% for October. The decline leaves traders facing two potential market-moving events this week: the US midterm elections on Tuesday, November 3, and the October employment report on Friday, November 6. The central…