What caused Silvers price to drop, ending its five-day win streak?

Silvers price decline, ending its five-day win streak, can be attributed to a stronger U.S. dollar and rising Treasury yields. These factors typically reduce the appeal of non-yielding assets like silver, prompting investors to shift towards more lucrative opportunities.

Silver Prices Dip as Ceasefire Efforts Gain Momentum, Lease Market Steady

Ceasefire Negotiations and Market Reactions

Mediators Egypt and Qatar delivered a response from Hamas to a proposal that includes the release of hostages held in Gaza and a ceasefire in the Palestinian enclave. Israel is currently studying the document, according to a statement released by Prime Minister Benjamin Netanyahu’s office on behalf of the Mossad agency.

The XAGUSD pair may limit its downside as the Dollar may struggle due to the softer US data raising speculations of the Federal Reserve reducing interest rates in 2024. US ISM Services PMI fell sharply to 48.8 in June, marking the steepest decline since April 2020. This figure was well below market expectations of 52.5, following a reading of 53.8 in May.

Additionally, the ADP Employment report showed that US private businesses added 150,000 workers to their payrolls in June, the lowest increase in five months. This figure fell short of the expected 160,000 and was below the downwardly revised 157,000 in May.

On Tuesday, Jerome Powell said that the Fed is getting back on the disinflationary path. However, the Fed Chair wants to see further evidence before cutting interest rates as the US economy and the labour market remain strong, per Reuters.

Businesses Secure Long-Term Stability with New Lease Agreements

The EURUSD currency pair remains in a tight range above the 1.0900 support level on Monday as it struggles for direction. Investors seek fresh cues at the start of a busy data week, which may indicate how much the Federal Reserve will cut interest rates in September.

India Sees 22.5% Growth in Tax Collections, Boosted by Lease Revenues

India's net direct tax collections saw a significant boost, growing by 22.5% as of August 11, compared to 19.54% the previous month. This surge was driven by a 30% rise in Personal Income Tax revenues and a 111% increase in Securities Transaction Tax receipts, despite modest corporate tax growth.

New Tech Firm Secures Long-Term Lease in Downtown Business District

A major tech firm has signed a long-term lease for a new office space in downtown San Francisco, signaling confidence in the city's commercial real estate market. The move is expected to bring hundreds of jobs to the area and boost local businesses.

Lawmakers Consider Alternatives as Lease Deduction Nears Expiration

Lawmakers are evaluating alternatives to the expiring 20% deduction for qualified business income introduced by the Tax Cuts and Jobs Act. One option is corporate integration, which could address existing distortions. Businesses with a lease may also be impacted by these potential changes.

Why non-domiciled individuals from UK relocate to Cyprus

Cyprus, with its favorable tax laws and vibrant lifestyle, is a popular relocation choice for non-domiciled individuals from the UK. These individuals seek to optimize their tax situation by leveraging the non-domicile status, which can significantly reduce tax liabilities, especially on foreign-source income like dividends and interest.

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Silver Prices Dip as Ceasefire Efforts Gain Momentum, Lease Market Steady

Ceasefire Negotiations and Market Reactions