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US Economic Data Sparks Rate Cut Speculation, Bolstering Silver Prices
Recent US economic data has sparked speculation of a rate cut, which has had a significant impact on silver prices. With Nonfarm Payrolls falling short of expectations and the Unemployment Rate rising slightly, investors are closely watching Fed speeches for further clues about the future direction of interest rates.
Despite the mixed economic data, top economists and investors are starting to believe that there is a higher chance of a Fed rate cut in September. The probability of a rate cut has increased to nearly 90%, which has supported silver prices as lower interest rates typically increase demand for silver as a safe-haven asset.
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