{"id":127458,"date":"2024-07-17T08:40:00","date_gmt":"2024-07-17T08:40:00","guid":{"rendered":"https:\/\/kinesis.money\/?p=127458"},"modified":"2024-07-17T08:40:00","modified_gmt":"2024-07-17T08:40:00","slug":"silver-rises-rate-cut-hopes","status":"publish","type":"post","link":"https:\/\/kinesis.money\/tr\/market-analysis\/silver-news\/silver-rises-rate-cut-hopes\/","title":{"rendered":"Silver Price News: Silver Rises By 2% As Rate-Cut Hopes Bolster Safe Havens"},"content":{"rendered":"\n

Silver prices made solid gains on Tuesday, moving higher as the precious metals complex took support from rising expectations that the US Fed will cut interest rates in little more than two months.<\/p>\n\n\n\n

Prices rose as high as $31.43 an ounce<\/a> on Tuesday, compared with around $30.68 in late deals on Monday.<\/p>\n\n\n\n

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

Both gold and silver moved higher on Tuesday on the back of comments by US Fed chair Jerome Powell on Monday who took note of the recent slower inflation figures for June and said the central bank wouldn\u2019t need to wait for inflation to fall to its target of 2% before starting a rate-cutting cycle.<\/p>\n\n\n\n

The markets are now fully pricing in an interest rate cut at the Fed\u2019s planned meeting on September 18, just over two months away. Lower interest rates tend to weaken the US dollar and reduce the opportunity cost of holding precious metals \u2013 both bullish factors for gold and silver prices.<\/p>\n\n\n\n

Twice in June, silver prices dipped below the $29.00 an ounce level, only to encounter strong buying that lifted prices, setting the market up for a breakout of the downward trend seen from late May through late June.<\/p>\n\n\n\n

Elsewhere, attention in Asia was focused on China\u2019s Third Plenum which began on Monday. The meetings \u2013 held roughly every five years \u2013 usually focus on charting a course for the economy in the coming years.<\/p>\n\n\n\n

The outcome of the meeting will be closely watched for any signs of policies that would stimulate economic growth, particularly as China\u2019s economy has slowed in recent months. China is both a major producer and consumer of silver, and its ongoing investments in clean energy and transport provide a supportive element for industrial demand for the grey metal.<\/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 made solid gains on Tuesday, moving higher as the precious metals complex took support from rising expectations that the US Fed will cut interest rates in little more than two months.<\/p>\n","protected":false},"author":50,"featured_media":127529,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[91,214],"tags":[],"class_list":["post-127458","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-analysis","category-silver-news"],"acf":[],"yoast_head":"\nSilver Rises By 2% As Rate-Cut Hopes Bolster Safe Havens | Kinesis<\/title>\n<meta name=\"description\" content=\"Discover Kinesis' gold news analysis for today, Wednesday 17th 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 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