Silver Holds Above $89

2026-02-04 15:28 By Joana Ferreira 1 min. read

Silver pared some early gains on Wednesday, trading just above $89 per ounce, as markets digested US economic data and the potential impact on Federal Reserve policy following President Trump’s nomination of Kevin Warsh as Fed chair.

With key labor-market reports postponed this week, attention focused on the ADP survey, which showed weaker-than-expected private payroll growth, while a stronger-than-forecast ISM services PMI indicated ongoing momentum in the US service sector.

The metal was still up nearly 5%, marking a second consecutive day of gains after a historic two-day selloff that erased as much as 40% of its value.

Forced liquidations appear to have eased, with dip buyers stepping in, supported by a persistent structural supply deficit and steady industrial demand.

Geopolitical tensions also lent safe-haven support after the US Navy shot down an Iranian drone in the Arabian Sea, even as a new round of US-Iran nuclear talks is scheduled for Friday.



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