Silver holds steady as dollar rallies, Middle East tensions ease

Silver remained steady at nearly $33.7 per ounce on Monday as the dollar and Treasury yields gained on strong U.S. economic indicators and rising expectations of a Trump victory in next month’s election.

Silver holds steady as dollar rallies, Middle East tensions ease

Reduced geopolitical tensions in the Middle East also weighed on precious metals; Israel's weekend strikes on Iran avoided key crude and nuclear sites, and Tehran held back from immediate retaliation, raising hopes for de-escalation in the region.

Investors eye China’s NPC amid sharp industrial profit decline

Meanwhile, investors are eyeing China’s National People’s Congress meeting from Nov. 4-8, anticipating possible announcements on debt and fiscal measures as recent data showed industrial profits fell at their fastest rate since the pandemic, clouding the outlook for metal demand in China.