Silver prices advanced toward $36 per ounce on Wednesday, rebounding from over two-week lows. This rise was bolstered by a weakening US dollar and declining Treasury yields. The increase occurred as geopolitical tensions showed signs of easing, with the US-brokered ceasefire between Israel and Iran holding steady despite occasional minor skirmishes. However, intelligence reports suggested that recent US missile strikes have only partially impaired Iran’s nuclear capabilities, delaying but not dismantling its program. Meanwhile, Federal Reserve Chair Jerome Powell highlighted a flexible stance on monetary policy, suggesting that “many paths are possible” and leaving room for a possible rate cut in July. He underscored a cautious approach, indicating that the Fed would respond promptly should signs of labor market weakness arise. Furthermore, silver’s value continued to be buoyed by robust industrial demand and persistent supply limitations. The metal has outperformed gold this month, appreciating roughly 9% in June, compared to gold’s increase of just over 1%.
The material has been provided by InstaForex Company – www.instaforex.com
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