Silver Climbs Nearly 4%

Silver climbed nearly 4% toward the $52 an ounce level on Wednesday, supported by a weaker US dollar and falling Treasury yields after Democrats secured key victories in the US midterm elections, Trading Economics reports via TradingView. Markets read the results as raising the likelihood of political gridlock in Washington, and the dollar fell to a four-week low while yields declined across the curve. Lingering uncertainty over US-Iran negotiations and Friday's US nonfarm payrolls report also framed the session, with markets pricing a 79% chance of a Fed rate hike in December, according to CME's FedWatch Tool.

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