[MARKET UPDATE] Spot silver reclaims USD 90/oz to the upside, rising over 6% intraday thus far
Newsquawk Staff ·
Spot silver reclaims USD 90/oz to the upside, rising over 6% intraday thus far.
What it means
Spot silver's move above USD 90/oz, rallying over 6% intraday, signals strong demand or a shift in sentiment, likely driven by broader risk dynamics or inflation concerns. This upward momentum could influence related assets like precious metals and the USD, and traders may want to assess whether this move is sustainable or a reaction to specific events.
- [MARKET ANALYSIS] Asia-Pac stocks trade mixed folowing the continued tech rout stateside where the Nasdaq 100 slipped into a correction and with markets cautious ahead of the US midterm election
- [MARKET ANALYSIS] Dollar is flat ahead of the midterms, while yuan weakens after the PBoC raised its FX RRR
- [MARKET ANALYSIS] T-note futures pulled back after gaining yesterday alongside a slump in oil prices, while demand is contained with cash treasuries trading shut overnight amid the Tokyo closure
- [MARKET ANALYSIS] Oil prices are contained after dropping 8% on Monday amid hopes for diplomacy and despite a report that the US conducting a small-scale, defensive attack on Iran's Qeshm Island
- [MARKET UPDATE] Asia-Pac stocks begin mixed with underperformance in the KOSPI following the continued tech rout stateside which saw the Nasdaq 100 dip into a correction, while demand is contained amid the holiday in Japan and looming US midterm elections
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