Silver (XAG/USD) prices extended its gains for the sixth straight day, trading around $29.90 during Asian hours on Friday. Silver prices could find upside support amid safe-haven demand as markets anticipate signals on the US economy under the incoming Trump administration and the Federal Reserve's (Fed) interest rate outlook for 2025
Non-yielding silver gained traction as modest US PCE inflation data challenged expectations of limited Fed rate cuts next year, hinting at the possibility of more cuts. The safe-haven appeal was supported by rising geopolitical risks stemming from the ongoing Russia-Ukraine conflict and ongoing tensions in the Middle East.
Source: FXStreet
