Silver prices maintained their strength above $36.20 per ounce on Thursday, following an almost 1% increase in the previous session. This stability is attributed to the combination of a weaker dollar and declining Treasury yields, which continue to bolster the metal’s value. The current market dynamics arise amid heightened anticipation of Federal Reserve rate cuts, influenced by dovish indicators from Chair Jerome Powell. On Wednesday, Powell emphasized that interest rates should stay unchanged due to inflation risks associated with the Trump administration’s tariffs, while also suggesting that without these tariffs, the Fed might have continued easing measures. In the geopolitical arena, US officials are set to engage in talks with Iranian representatives next week, and the ceasefire between Iran and Israel remains in effect. Complementing these broader economic factors, silver has gained from robust industrial demand and ongoing supply limitations. Notably, silver has significantly outshone gold in June, recording an approximate 10% increase, compared to gold’s modest rise of just over 1%.
The material has been provided by InstaForex Company – www.instaforex.com
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