Silver prices rose above $30.50 per ounce on Wednesday, recovering some losses from earlier in the week as the dollar pulled back from recent highs.
Silver rebounds after recent losses
Investors were also awaiting key US economic data to gauge the outlook for potential Federal Reserve interest rate cuts. Minutes from the Fed’s November meeting revealed officials were optimistic about easing inflation and a resilient labor market, which supported the case for further rate cuts. However, they expressed a preference for gradual adjustments.
Markets price possible Fed cut
Markets are currently pricing in a 63% probability that the Fed will cut rates by another 25 basis points next month. Meanwhile, investors continued to evaluate the impact of Trump's tariff threats on demand for safe-haven assets and the stability of the ceasefire deal between Israel and Hezbollah.
