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Silver Fell On Profit Booking After US Economy Added 275K Jobs In February 2024.
Silver prices experienced a slight decline of -0.07%, settling at 74262, driven by profit bookings following the release of positive US economic data. The US economy added 275K jobs in February, surpassing expectations of 200K and outperforming the revised figure of 229K in January. Federal Reserve Chair Jerome Powell indicated that while the central bank plans to cut interest rates this year, it requires further evidence of inflation falling to the 2% target. Minneapolis Fed President Neel Kashkari expressed a dovish stance, revealing plans for two interest-rate cuts in 2024 but suggesting a potential adjustment based on incoming stronger macro data.
