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December Silver futures rallied on a trade truce and Fed rate cut
December Silver futures rallied for three consecutive sessions, reaching the highest level in about a week. The white metal is up a full 7.31% this week, setting up for the highest close since October 13th after bouncing off the 50-day moving average. The conclusion of the meeting between the U.S. and China with a trade truce is likely to benefit industrial metals. Silver has a stronger industrial component than gold while also serving as a flight to safety metal, giving it an outsize benefit from the positive economic news. The Federal Reserve also cut rates by 25 basis points and is ending quantitative tightening ...
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