Silver on track for third weekly gain as US inflation eases

reported by Mehr Reporter Silver prices fell to around $30.66 per ounce on Friday, but still recorded their third consecutive week of gains. Declining core inflation in the US has strengthened expectations for further interest rate cuts by the Federal Reserve.

Christopher Waller of the Federal Reserve has also announced that there may be three or four interest rate cuts this year. . However, silver remains below the 12-year record high of $35 hit in October. Concerns about industrial demand, particularly in China’s solar panel sector, have limited silver price growth. The self-regulation program of Chinese photovoltaic companies to manage supply has also affected the demand for this metal.

Thus general expectations for interest rate reduction by the Federal Reserve and its effect on the demand for goods, the main factor of this upward trend is The graph below shows the monthly changes of silver since 1980.