Silver prices rose about 3.5% to over $53 an ounce on Wednesday, their highest level in nearly three weeks, supported by growing expectations that the Federal Reserve will continue to cut interest rates this year. Optimism over the imminent end of the US government shutdown, which will allow for the release of new economic data, also fueled this speculation.
The market currently rates the chance of a 25-bps Fed rate cut in December at about 65%, up from about 62% the day before. Meanwhile, supply pressures are expected to persist, with demand likely to increase amid the start of the Indian wedding season and US tariffs on the precious metal. (alg
Source: Trading Economics
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