Silver prices slipped below $36.50 per ounce on Wednesday, extending losses for a second consecutive session as investors awaited the latest US CPI report. A stronger-than-expected reading could weigh on precious metals by limiting the Federal Reserve's scope for interest rate cuts.
Markets also digested the outcome of US–China trade talks in London, where officials agreed on a framework to implement the Geneva consensus and reaffirmed commitments made during a recent call between Presidents Trump and Xi.
Despite recent pullbacks, silver continues to find underlying support from robust industrial demand, particularly from the solar energy sector. The metal hit a more than 13-year high earlier this week, driven in part by a persistent supply-demand imbalance.
According to the Silver Institute, global silver supply lagged demand by 15% in 2024, and another deficit is projected this year—providing a longer-term tailwind for prices.
Source: Trading Economics
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