{"id":128491,"date":"2024-07-31T09:34:57","date_gmt":"2024-07-31T09:34:57","guid":{"rendered":"https:\/\/kinesis.money\/?p=128491"},"modified":"2024-07-31T09:34:57","modified_gmt":"2024-07-31T09:34:57","slug":"silver-nudges-higher-interest-rate-decisions","status":"publish","type":"post","link":"https:\/\/kinesis.money\/nl\/market-analysis\/silver-news\/silver-nudges-higher-interest-rate-decisions\/","title":{"rendered":"Silver Price News: Silver Nudges Higher Ahead of Interest Rate Decisions"},"content":{"rendered":"\n

Silver prices edged higher to go above the $28.00 an ounce<\/a> level on Tuesday, helped by gold prices which rebounded after a subdued start to the week.<\/p>\n\n\n\n

Silver prices pushed up to $28.45 an ounce on Tuesday, compared with around $27.93 an ounce in late trades on Monday.<\/p>\n\n\n\n

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KAG\/USD 1-hourly Kinesis Exchange <\/figcaption><\/figure>\n\n\n\n

The latest uptick for silver follows a markedly bearish second half of July, after prices traded as high as $31.80 an ounce earlier in the month.<\/p>\n\n\n\n

Central bank monetary policy comes to the fore this week, with the US Fed widely tipped to maintain the current 5.5% interest rate in a decision expected on Wednesday, with a first rate cut expected in September. The Bank of England is also set to make a decision on interest rates on Thursday, with mixed views in the market on whether it will start to lower rates at this point from the current 5.25%.<\/p>\n\n\n\n

For the time being, silver has been unable to break out of a downward-sloping price channel that started in late May, suggesting a potential to test further downside at around $27.00 an ounce in the short-term.<\/p>\n\n\n\n

Looking ahead, the markets will be watching out for Thursday\u2019s US ISM manufacturing PMI figures for July, as well as Chinese Caixin manufacturing figures for the same month. Recent monthly manufacturing stats for privately-owned companies have shown solid growth so far in 2024, but more recently worries have surfaced over the health of China\u2019s economy, raising questions over the country\u2019s industrial demand for silver.<\/p>\n\n\n\n

These fears over economic growth have prompted weakness in base metals markets, which in turn has weighed on silver sentiment, according to some industry observers.<\/p>\n\n\n\t\t\t

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Frank\u2019s experience covering the commodities markets spans 22 years, with a particular specialism in metals, carbon and energy markets.\u00a0<\/em>He has worked as a senior editor for S&P Global Commodity Insights\u00a0(formerly Platts) and before this, at ICIS-LOR, a part of Reed Business Information (Reed Elsevier), where he covered the petrochemicals markets from 2003 to 2005.<\/em><\/p>\n

This publication is for informational purposes only and is not intended to be a solicitation, offering or recommendation of any security, commodity, derivative, investment management service or advisory service and is not commodity trading advice. This publication does not intend to provide investment, tax or legal advice on either a general or specific basis.<\/i>
\n<\/i><\/p>\n

Read our Editorial Guidelines\u00a0<\/i>here.<\/a><\/i><\/p>\n\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t<\/section>\n\t","protected":false},"excerpt":{"rendered":"

Silver prices edged higher to go above the $28.00 an ounce level on Tuesday, helped by gold prices which rebounded after a subdued start to the week.<\/p>\n","protected":false},"author":50,"featured_media":128521,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":true,"footnotes":""},"categories":[91,214],"tags":[],"class_list":["post-128491","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-analysis","category-silver-news"],"acf":[],"yoast_head":"\nSilver Nudges Higher Ahead of Interest Rate Decisions | Kinesis<\/title>\n<meta name=\"description\" content=\"Discover Kinesis' silver news analysis for today, Wednesday 31st of July 2024, from leading precious metals analyst Frank Watson.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"nl_NL\" \/>\n<meta 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