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Spot Silver Ebbs after Recouping USD90, Once Plunges ~17%
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Spot silver experienced immense volatility today (5th), arresting the rebound momentum of the previous two days. In the early Asian session, it briefly surpassed USD90 per ounce, before plummeting nearly 17%. It last slid 12.5% at USD77.13 per ounce. Spot gold last sank 1.48% at USD4,890.73. OCBC strategist Christopher Wong stated that market sentiment for most asset classes, including regional stocks and metals, appears to have weakened, creating a negative cycle amid insufficient market liquidity, according to foreign reports. Standard Chartered analyst Sudakshina Unnikrishnan noted that gold prices may continue to rattle until the Federal Reserve's monetary policy outlook becomes clearer. However, due to solid structural drivers, gold prices are expected to rebound. AASTOCKS Financial News Website: www.aastocks.com |
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