Silver rises as dollar weakens amid U.S. election and Fed uncertainty

Silver prices rose above $32.60 per ounce on Monday, recovering slightly from a two-week low as the dollar weakened amid mounting uncertainty around the U.S. presidential election and the upcoming Federal Reserve rate decision.

Silver rises as dollar weakens amid U.S. election and Fed uncertainty

A softer dollar typically boosts demand for dollar-priced commodities like silver. Additionally, optimism for further stimulus from China supported market sentiment as the National People’s Congress began its five-day session. Chinese officials are expected to announce new debt and fiscal policies to stimulate growth, with reports hinting at a potential stimulus package surpassing 10 trillion yuan.

Global central bank decisions this week keep markets cautious

Meanwhile, investors are also bracing for crucial monetary policy decisions this week from central banks in the UK, Australia, Brazil, Poland, and Norway, fueling a cautious market outlook.