Silver Prices Rebound
Silver prices rose about 1% to above $51 per ounce on Wednesday, the highest level in nearly three weeks, supported by growing expectations that the Federal Reserve will continue cutting interest rates this year.
Optimism over an imminent end to the US government shutdown which would allow the release of fresh economic data, also reinforced those bets. Markets now price in roughly a 65% chance of a 25bps Fed rate cut in December, up from about 62% a day earlier.
Meanwhile, supply pressures are expected to persist, with demand likely picking up amid the start of India’s wedding season and US tariffs on the white metal.
Source : Tradingeconomics.com