Silver Holds Firms Amid Weaker Dollar, Yields
Silver prices hovered around $38.90 per ounce on Tuesday, holding near 14-year highs as a weaker dollar and lower Treasury yields continued to support demand for precious metals. Those moves came as investors cautiously awaited developments on trade talks ahead of an August 1 deadline for countries to strike deals with the US.
On the monetary front, markets await remarks from Federal Reserve Chair Jerome Powell later today for signals on interest rate policy. While Trump has ramped up pressure for rate cuts, traders are not yet pricing in a move this month.
Additional support for silver came from China, where the industry ministry pledged to stabilize growth in key sectors such as machinery, autos, and electrical equipment. The action plan also covers 10 major industries, including steel, nonferrous metals, petrochemicals, and construction materials.
Source : Trading Economics