Silver prices are currently declining on Friday (August 29th), as investors show caution ahead of the release of important inflation data from the United States. Pressure on silver also comes from the strengthening US dollar, which is pressuring commodities denominated in that currency. Furthermore, the Fed's interest rate policy is widely expected to limit the price movement of this precious metal in the short term.
Nevertheless, expectations of an imminent Federal Reserve interest rate cut remain a key support factor for silver as a safe haven asset and hedge against inflation. Investors are still closely watching the upcoming release of Personal Consumption Expenditures (PCE) data, as the results could determine the direction of monetary policy and influence broader market sentiment.
Source: Newsmaker.id
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