Silver fell below $51 per troy ounce in Friday trading, as separate pricing services showed different readings and U.S. inflation and growth figures kept Federal Reserve policy in focus.
Kitco's spot-price page showed a $50.69 bid and a $50.94 ask at 2:56 a.m. ET. It listed a session low of $50.57 and a high of $53.13. The bid was down $1.354, or 2.60%, in that snapshot.
FXStreet reported XAG/USD at $50.69 on Friday and called it a fresh 11-month low after three consecutive sessions of losses. Trading Economics listed silver at $50.97 for Oct. 30, while Investing.com's historical table showed a daily low of $51.096. These separate readings may reflect different instruments or sampling times and are not directly comparable quotes.
The U.S. Bureau of Economic Analysis (BEA) reported Oct. 29 that the personal consumption expenditures (PCE) price index rose 0.5% from August and 3.6% year over year in September. The core index, which excludes food and energy, increased 0.3% month over month and 3.1% year over year.
In a separate advance estimate, BEA put real gross domestic product growth at a 3.4% annual rate in the third quarter, up from 2.2% in the second. BEA credited investment, consumer and government spending with supporting growth and reported that exports declined.
The Federal Reserve's policy-setting Federal Open Market Committee (FOMC) voted 10-2 on Oct. 28 to keep the federal funds target range at 3.75% to 4%. FOMC members Lisa D. Cook and Beth M. Hammack dissented, each favoring a quarter-point increase. The committee said, “Inflation remains elevated.”
FXStreet's silver explainer cited the metal's role in electronics and solar energy alongside investor use. The outlet said silver's lack of interest payments can affect its appeal relative to yield-bearing assets when expectations for higher rates shift. The move follows EconoTimes' Thursday report on silver losses. The Federal Reserve calendar lists Dec. 8-9 for the next meeting.
