{"id":137671,"date":"2024-10-18T09:08:27","date_gmt":"2024-10-18T09:08:27","guid":{"rendered":"https:\/\/kinesis.money\/?p=137671"},"modified":"2024-10-21T09:04:44","modified_gmt":"2024-10-21T09:04:44","slug":"silver-holds-ecb-rate-cuts","status":"publish","type":"post","link":"https:\/\/kinesis.money\/nl\/market-analysis\/silver-news\/silver-holds-ecb-rate-cuts\/","title":{"rendered":"Silver Price News: Silver Holds Up on ECB Rate Cuts"},"content":{"rendered":"\n

Silver prices were little changed on Thursday, albeit with prices coming off the previous day\u2019s intraday highs.<\/p>\n\n\n

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\"silver
KAG\/USD 1-hourly Kinesis Exchange<\/figcaption><\/figure>\n<\/div>\n\n\n

Silver traded in a range of $31.35 to $32.06 an ounce on Thursday, compared with Wednesday\u2019s range of $31.47 to $32.25 an ounce.<\/p>\n\n\n\n

The grey metal failed to show any convincing movement in either direction, seemingly ignoring fresh all-time highs for gold prices on Thursday.<\/p>\n\n\n\n

ECB rate cut provides support<\/h2>\n\n\n\n

Silver held broadly steady, supported by the European Central Bank\u2019s decision on Thursday to cut interest rates by 25 basis points to 3.4%, in line with market expectations.<\/p>\n\n\n\n

Markets weigh mixed US data<\/h2>\n\n\n\n

Meanwhile, the markets were left to digest a mixed set of data on the US economy on Thursday. Initial jobless claims figures came in below market expectations for the week ending October 12, suggesting a stronger than expected labour market, while US industrial production fell by 0.3% in September, worse than the market\u2019s expected 0.2% drop.<\/p>\n\n\n\n

Geopolitical tensions support precious metals<\/h2>\n\n\n\n

Gold and silver prices continued to take support from a heightened geopolitical risk environment, after Ukrainian President Volodymyr Zelenskyy was quoted as saying Russia is set to deploy North Korean troops in Ukraine, while Israel said it had killed Hamas leader Yahya Sinwar in Rafah, southern Gaza.<\/p>\n\n\n\n

Silver technical analysis<\/h2>\n\n\n\n

Silver appeared to take some support after briefly moving below the 20-day simple moving average, currently pegged at $31.49 an ounce, with oblique major support seen at $30.34 an ounce. On the upside, oblique minor resistance is seen at $32.66 an ounce, while horizontal resistance is seen at $32.55 an ounce.<\/p>\n\n\n\n

Upcoming economic data to watch<\/h2>\n\n\n\n

The immediate outlook is limited for key macroeconomic data releases, although Friday and Monday will see speeches by several US Fed officials, which may provide further signals on upcoming interest rate decisions at the central bank\u2019s meeting on November 7.<\/p>\n\n\n\t\t\t

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Frank\u2019s experience<\/a> covering the commodities markets spans 22 years, with a particular specialism in metals, carbon and energy markets.\u00a0<\/em>He has worked as a senior editor for S&P Global Commodity Insights\u00a0(formerly Platts) and before this, at ICIS-LOR, a part of Reed Business Information (Reed Elsevier), where he covered the petrochemicals markets from 2003 to 2005.<\/em><\/p>\n

This publication is for informational purposes only and is not intended to be a solicitation, offering or recommendation of any security, commodity, derivative, investment management service or advisory service and is not commodity trading advice. This publication does not intend to provide investment, tax or legal advice on either a general or specific basis.<\/i>
\n<\/i><\/p>\n

Read our Editorial Guidelines\u00a0<\/i>here.<\/a><\/i><\/p>\n\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t<\/section>\n\t\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Silver prices were little changed on Thursday, albeit with prices coming off the previous day\u2019s intraday highs. Silver traded in a range of $31.35 to $32.06 an ounce on Thursday, compared with Wednesday\u2019s range of $31.47 to $32.25 an ounce. The grey metal failed to show any convincing movement in either direction, seemingly ignoring fresh […]<\/p>\n","protected":false},"author":50,"featured_media":137747,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":true,"footnotes":""},"categories":[214],"tags":[],"class_list":["post-137671","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-silver-news"],"acf":[],"yoast_head":"\nSilver Price News: Silver Holds Up on ECB Rate Cuts - Kinesis<\/title>\n<meta name=\"description\" content=\"Discover Kinesis' silver price news analysis for today, Friday 18th of October 2024, from leading precious metals analyst Frank Watson.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"nl_NL\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Silver Price News: Silver Holds Up on ECB Rate Cuts\" \/>\n<meta property=\"og:description\" content=\"Discover Kinesis' silver price news analysis for today, Friday 18th of October 2024, from leading precious metals analyst Frank Watson.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/kinesis.money\/market-analysis\/silver-news\/silver-holds-ecb-rate-cuts\/\" \/>\n<meta property=\"og:site_name\" content=\"Kinesis\" \/>\n<meta property=\"article:published_time\" content=\"2024-10-18T09:08:27+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-10-21T09:04:44+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/kinesis.money\/wp-content\/uploads\/2024\/10\/silver-news-feature-silver-holds-up-on-ecb-rate-cuts.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1920\" \/>\n\t<meta property=\"og:image:height\" content=\"1058\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Frank Watson\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:description\" content=\"Discover Kinesis' silver price news analysis for today, Friday 18th of October 2024, from leading precious metals analyst Frank Watson.\" \/>\n<meta name=\"twitter:label1\" content=\"Geschreven door\" \/>\n\t<meta name=\"twitter:data1\" content=\"Frank Watson\" \/>\n\t<meta name=\"twitter:label2\" content=\"Geschatte leestijd\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minuten\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/kinesis.money\\\/market-analysis\\\/silver-news\\\/silver-holds-ecb-rate-cuts\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/kinesis.money\\\/market-analysis\\\/silver-news\\\/silver-holds-ecb-rate-cuts\\\/\"},\"author\":{\"name\":\"Frank Watson\",\"@id\":\"https:\\\/\\\/kinesis.money\\\/#\\\/schema\\\/person\\\/11c4884f9d074d6831f53e287228bf52\"},\"headline\":\"Silver Price News: Silver Holds Up on ECB Rate Cuts\",\"datePublished\":\"2024-10-18T09:08:27+00:00\",\"dateModified\":\"2024-10-21T09:04:44+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/kinesis.money\\\/market-analysis\\\/silver-news\\\/silver-holds-ecb-rate-cuts\\\/\"},\"wordCount\":313,\"image\":{\"@id\":\"https:\\\/\\\/kinesis.money\\\/market-analysis\\\/silver-news\\\/silver-holds-ecb-rate-cuts\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/kinesis.money\\\/wp-content\\\/uploads\\\/2024\\\/10\\\/silver-news-feature-silver-holds-up-on-ecb-rate-cuts.jpg\",\"articleSection\":[\"Silver News\"],\"inLanguage\":\"nl-NL\",\"copyrightYear\":\"2024\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/kinesis.money\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/kinesis.money\\\/market-analysis\\\/silver-news\\\/silver-holds-ecb-rate-cuts\\\/\",\"url\":\"https:\\\/\\\/kinesis.money\\\/market-analysis\\\/silver-news\\\/silver-holds-ecb-rate-cuts\\\/\",\"name\":\"Silver Price News: Silver Holds Up on ECB Rate Cuts - 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