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09.02.202600:53:24UTC+00Silver Gains for Second Session

Silver experienced an over 2% increase, edging towards $80 per ounce on Monday, building on a significant 10% surge observed in the prior session. This uptick follows a historical decline that saw the metal lose nearly half of its worth. Investors reacted positively to the landslide victory of Prime Minister Sanae Takaichi’s ruling coalition in Japan’s elections over the weekend, which sets the stage for her proposed expansionary fiscal measures. Concurrently, the United States and Iran engaged in discussions in Oman on Friday, attempting to lessen emerging tensions, though Iran persisted in its stance to continue nuclear fuel enrichment. Market participants are also keenly anticipating pivotal US employment and inflation data scheduled for release this week, which will offer clues on future Federal Reserve monetary policy. US Treasury Secretary Scott Bessent pointed to last week’s dramatic movements in precious metals as being driven by speculative trading by Chinese investors, labeling the previous peak as a speculative blowoff.

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