(Bloomberg) — Silver traded near a record high after US payroll data reinforced bets that the Federal Reserve will cut interest rates in its final policy meeting of 2025. Gold extended gains.<\/p>\n
US companies shed payrolls in November by the most since early 2023, according to ADP Research data released Wednesday, adding to concerns about a more pronounced weakening in the labor market.<\/p>\n<\/p>\n
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Bond yields and the dollar pushed lower, helping silver rebounding from a decline of 1.6%. Swap traders continued pricing in a quarter-point rate reduction at the Fed\u2019s Dec. 9-10 meeting. Precious metals including silver and gold typically benefit in a lower rate environment.<\/p>\n
The white metal has been on a tear recently, in part due to expectations that the US central bank will deliver further monetary easing and that a new Fed chair will likely mirror President Donald Trump\u2019s view favoring lower interest rates.<\/p>\n
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Silver has also been supported by a wave of speculative money betting on supply tightness. A record volume of the metal flowed into London last month, putting pressure on other hubs. Inventories in warehouses linked to the Shanghai Futures Exchange recently shrunk to the lowest in a decade.<\/p>\n
Holdings by silver-backed exchange-traded funds rose by about 200 tons on Tuesday, according to Bloomberg calculations, underscoring enduring investor interest in the metal. That brought the total holdings to the highest since 2022.<\/p>\n
\u201cFast-money traders love markets where pullbacks stay shallow because the physical side keeps tightening every dip,\u201d said Ahmad Assiri, a strategist at Pepperstone Group Ltd.<\/p>\n
Silver slipped to $58.32 an ounce as of 10:12 a.m. in New York, after hitting all-time high of $58.9789 an ounce earlier Wednesday. Gold rose .2% at $4,213.98 an ounce, after a two-day decline. Palladium and platinum both fell. The Bloomberg Dollar Spot Index lost 0.3%.<\/p>\n
–With assistance from William Clowes, Yihui Xie and Preeti Soni.<\/p>\n
Most Read from Bloomberg Businessweek<\/p>\n
\u00a92025 Bloomberg L.P.<\/p>\n","protected":false},"excerpt":{"rendered":"(Bloomberg) — Silver traded near a record high after US payroll data reinforced bets that the Federal Reserve…\n","protected":false},"author":2,"featured_media":325626,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[64,63,1071,99,164,176,5626,5291],"class_list":{"0":"post-325625","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-au","9":"tag-australia","10":"tag-bloomberg","11":"tag-business","12":"tag-economy","13":"tag-federal-reserve","14":"tag-interest-rates","15":"tag-precious-metals"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/325625","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/comments?post=325625"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/325625\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media\/325626"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media?parent=325625"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/categories?post=325625"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/tags?post=325625"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}