Silver Analysis 14-August-2024

In quiet trading, silver prices remained steady at around $27.8 per ounce as investors anticipated a critical US consumer inflation report.

Silver Analysis 14-August-2024

Silver Analysis 14-August-2024

This report could confirm the likelihood of a significant interest rate cut by the Federal Reserve in September. Earlier this week, data showed that US producer prices increased less than expected in July, reinforcing expectations that the Fed might take a more cautious approach to monetary policy.

Markets are now predicting a higher possibility of a 50 basis point rate cut by the Fed in September, with a total reduction of over 100 basis points expected for the year.

Meanwhile, Australia’s Perth Mint reported a 91% increase in silver product sales in July, reaching 939,473 ounces, the highest since February. Most of these sales were shipped to the US, the Mint’s largest market. (Source FxNews)