Silver Hits 11-Month Low as Fed Rate Hike Expectations and Industrial Demand Pressure Weigh on Prices

English summary

Spot silver fell for a third straight day to near $50.65/oz, hitting an 11-month low. US September PCE rose 0.5% MoM and 3.6% YoY, while Q3 GDP grew 3.4%, beating expectations and reinforcing bets on a December rate hike (approx. 75% probability). Silver's industrial nature causes it to underperform gold, with platinum group metals also under pressure; short-term weakness is expected to persist.