Spot Silver held in proximity to the $38 mark on Tuesday, as market players weighed signs of progress in Ukraine peace negotiations.
Yesterday US President Donald Trump met with European leaders to discuss security guarantees for Ukraine.
Trump also said he was working to arrange a direct meeting between Russia’s President Vladimir Putin and Ukrainian President Volodymyr Zelenskiy, followed by a possible trilateral summit.
Investor focus now sets on the Federal Reserve’s annual symposium in Jackson Hole, Wyoming, later this week, where policy makers will discuss labor market trends and monetary policy outlook.
The minutes of the Federal Reserve’s July meeting will also be on investors’ radar. The Fed kept its federal funds rate target range without change at 4.25%-4.50% at its July meeting. But, two governors dissented in favor of a rate cut, which has been the first such dual dissent since 1993.
Silver was last up 0.16% on the day to trade at $38.08 per troy ounce.
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