Silver bounces back; heads for 7th straight weekly gain

Silver climbed back near $47 per ounce on Friday, marking its seventh consecutive weekly rise as investors bet on further US rate cuts and sought safety amid the ongoing government shutdown. Markets are nearly fully pricing in a 25 basis point cut this month, followed by another in December. The dollar index steadied near 97.5 after a volatile week, while the shutdown forced a data blackout, delaying the release of September?s nonfarm payrolls. On the domestic front, MCX December silver futures slipped by 1.5% to ₹142719 per kg.

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