Silver hits fresh 14-year high
Silver climbed 1% toward $42 per ounce on Friday, marking a new 14-year high as firm expectations of a Federal Reserve rate cut next week supported buying.
US data on Thursday showed consumer prices rising 0.4% in August, the fastest pace in seven months, while producer prices unexpectedly declined earlier in the week.
Jobless claims also pointed to labor market weakness, climbing 27K to 263K, the highest since 2021.
Markets are now pricing in about a 93% chance of a 25 basis point cut at the Fed’s September 17 meeting, with odds of a larger half-point move edging higher.
Safe-haven demand further underpinned precious metals amid ongoing geopolitical tensions. On the industrial side, strong demand from solar, electric vehicles and electronics has kept the physical silver market tight against a backdrop of persistent supply constraints.
UCapital Asset Management LLP or group companies may have commercial relationships with the companies mentioned. This content is not financial advice.
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