FX.co ★ Silver Holds Above $52 Near Record Highs

Silver prices rose above $52, hovering near record highs as investors gravitated towards safe-haven assets. This comes ahead of the release of the Federal Reserve's meeting minutes, scheduled for later today, and the delayed announcement of the U.S. jobs report on Thursday. Both events are anticipated to provide insights into the trajectory of future interest rates. The minutes from the Federal Reserve meeting are likely to highlight disagreements among policymakers regarding the necessity for additional monetary easing. Concurrently, the jobs report is expected to reflect an increase of roughly 50,000 jobs in September, following prior data indicating unemployment benefits peaked at a two-month high in October. The likelihood of a rate cut in the upcoming month has diminished, with the probability now at 46%, down from 63% just last week. On the physical market front, additional factors are bolstering silver prices. India's wedding season is driving up physical demand, while uncertainties surrounding potential U.S. tariffs on silver further enhance the metal's appeal as a safe-haven asset.