Silver briefly rose to $58.84 per troy ounce, marking a temporary halt after a 10% spike since Friday and lifting its year-to-date gains above 100%.
After briefly dipping below 0.92 last month, EUR/CHF has trended higher, supported by Switzerland’s strong economic fundamentals.
The Platinum price has risen by more than 80% in the year that is coming to an end, putting it on track for its strongest annual gain since exchange trading began 38 years ago.
In mid-October, the Silver price exceeded the $50 per troy ounce mark for the first time, reaching a record high. At the end of November, this record was broken once again. The current all-time high is almost $59. The price of Silver has doubled since the beginning of the year.
With an increase of more than 60%, the price of Gold is on track for its strongest annual gain since 1979.
European Central Bank (ECB) Governing Council (GC) member Joachim Nagel said during Tuesday’s European session that inflation in the Eurozone is practically at target and will stay near these levels.
The Euro-area flash inflation estimate for November remained close to the ECB’s target at 2% y/y, supporting an ECB that is on hold unless new shocks appear.
Markets welcomed Moody’s decision to maintain Hungary’s sovereign rating with a negative outlook, seeing the risk of a downgrade as already priced in after higher fiscal targets were announced.
USD/ZAR is consolidating between 17.00 and 17.48 after testing the 2024 low, with traders eyeing a breakout to confirm a short-term move, Société Générale's FX analysts note.
Bank of Japan Governor Kazuo Ueda has strongly suggested that the December 19 meeting could mark the end of the long pause in rate hikes, reinforcing expectations of a policy move driven by persistent inflation and fresh fiscal stimulus.
European Central Bank (ECB) policymaker Martin Kocher stated during the European trading session on Tuesday that the central bank should “keep powder dry and be able to react if needed”.
Here is what you need to know on Tuesday, December 2: