Silver held steady around $42.6/oz in the European session on Tuesday (September 16th), nearing a 14-year peak ahead of the Fed's decision. The market strongly assessed US President Donald Trump's 25-bps cut for a larger cut; the Bank of China and China are likely to ease, while the Bank of Japan and Bank of England are expected to hold steady. Progress on US-China trade talks also supported sentiment.
Fundamentally, the bias remains constructive: the dollar has the potential to weaken if the Fed begins to ease, while industrial demand (solar/EV/electronics) is tightening physical supply.
At the time of this analysis's release, the silver price was at $42,681.
Disclaimer:
This article is for analytical purposes only and is not a definitive reference. Please consider fundamental and technical developments in trading before making any investment decisions.
Source: Newsmaker.id
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