Silver Holds Near Multi-Week Lows
Silver prices hovered around $57.20 an ounce on Tuesday, remaining close to recent multi-week lows as rising oil prices fueled inflation concerns and prompted investors to reassess the US interest rate outlook ahead of next week’s Federal Reserve meeting. Brent crude climbed to a five-month high amid renewed Houthi attacks and reports of vessel strikes in the Gulf, heightening concerns over regional supply disruptions and strengthening expectations of tighter monetary policy. While the Fed is widely expected to keep rates unchanged next week, investors will closely monitor its forward guidance for signals on a possible December hike. Markets are currently pricing in a more than 90% chance of a rate increase, according to the CME FedWatch Tool.
Silver prices hovered around $57.20 an ounce on Tuesday, remaining close to recent multi-week lows as rising oil prices fueled inflation concerns and prompted investors to reassess the US interest rate outlook ahead of next week’s Federal Reserve meeting. Brent crude climbed to a five-month high amid renewed Houthi attacks and reports of vessel strikes in the Gulf, heightening concerns over regional supply disruptions and strengthening expectations of tighter monetary policy. While the Fed is widely expected to keep rates unchanged next week, investors will closely monitor its forward guidance for signals on a possible December hike.
Markets are currently pricing in a more than 90% chance of a rate increase, according to the CME FedWatch Tool.