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Silver fell toward $29 per ounce on Monday, sliding for the fourth straight session even after top consumer China surprised markets by slashing key lending rates to new lows to support its economy.
The People’s Bank of China lowered its one-year and five-year loan prime rates by 10 basis points to 3.35% and 3.85%, respectively, at its July fixing.
The Third Plenum conducted last week also failed to excite investors hoping for new stimulus measures, as the readout did not outline concrete policy plans to address the country’s economic challenges.
The People’s Bank of China lowered its one-year and five-year loan prime rates by 10 basis points to 3.35% and 3.85%, respectively, at its July fixing.
The Third Plenum conducted last week also failed to excite investors hoping for new stimulus measures, as the readout did not outline concrete policy plans to address the country’s economic challenges.
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