Silver Futures Enter Bull Market as Prices Jump to 10-Month High
- Volume in New York is more than double average for time of day
- Investors pour cash into `devil's metal,' approaching record
Silver Jumps to 10-Month High, Enters Bull Market
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Silver entered a bull market after climbing to a 10-month high amid positive signs for Chinese industrial demand and decreasing bets the Federal Reserve will raise U.S. interest rates.
China’s economy stabilized in the first quarter as gross domestic product rose 6.7 percent from a year earlier, boosting speculation that demand won’t slow for industrial metals. Investors are betting there’s a 55 percent chance Fed officials will increase rates by the end of 2016, down from 93 percent at the beginning of the year. Lower rates are a boon to precious metals, which don’t offer yields or dividends.