Geopolitics Eases, Macro Tight, Silver Still Playing It Safe
Silver prices traded steadily on Thursday (26/6), in the range of $36.344 per ounce, reflecting a balance between geopolitical sentiment and macroeconomic pressures. Although the ceasefire between Israel and Iran has eased market concerns, investors are still wary of the potential for escalation that could trigger demand for safe-haven assets such as precious metals. On the other hand, expectations of interest rate cuts by the Fed continue to make silver attractive, because this metal, like gold, does not provide interest yields and tends to be attractive when interest rates are low.
However, silver's upward momentum is still limited. After a strong rally in the past few months, the market has begun to show signs of consolidation - investors are choosing to wait for inflation data, global demand conditions, and the latest interest rate policy from the Fed. If macro concerns remain high and global risk conditions ease, silver has the potential to break through the next psychological level of around $37-$38 per ounce. Conversely, increased dollar strength or tensions in the market risk holding back the upward movement of this metal's price. (alg)
Source: (alg-Newsmaker)
