Silver's surge livens up a dull European session
A lacklustre day for European markets has been alleviated by fresh gains for silver and gold, says Chris Beauchamp, Chief Market Analyst at investing and trading platform IG.
FTSE 100 drifts on US bank holiday
The FTSE 100, like other European markets, was always doomed to start September in muted fashion thanks to Labor Day. In a world where Nvidia is larger than the UK stock market (and indeed its French and German peers), US holidays continue to act as a drain on liquidity. The past week has seen the worst run for the FTSE 100 since early May, and an empty corporate calendar this week suggests the drift may continue.
Silver surges to 14-year high
At least precious metals have provided some interest today, most notably silver. Demand for gold’s cheaper cousin remains robust, fuelled by industry appetite and a persistent shortfall that is expected to intensify next year. All eyes now are on inflation and the Fed’s expected rate cut; a boost to inflation this year should only burnish silver’s appeal yet further.
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