Shanghai Silver Futures Plunge 5% to Yearly Low on June 24 as Fed Rate-Cut Bets Fade

XAG-5.51%

According to Jin10 Futures, Shanghai silver futures contracts fell 789 yuan/kg (down 5.08%) on June 24, hitting a new yearly low. London spot silver also declined, trading at 60.72 USD/troy oz.

The selloff reflects strengthening U.S. economic data—June manufacturing PMI rose to 55.7, the highest since May 2022—which has weakened market expectations for Federal Reserve interest rate cuts this year. Rising U.S. dollar index and Treasury yields continue to pressure precious metal prices.

Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.
Comment
0/400
No comments