Spot Silver held near a 1-month high of $39.06/oz. on Monday, supported by increased expectations of US monetary policy easing.
Silver rose to its highest level since July 25th last Friday, after Federal Reserve Chair Jerome Powell opened the door to a rate cut next month.
At the annual symposium in Jackson Hole, Powell hinted at a possible rate cut in September, as risks to the job market were rising. Yet, a decision was not set in stone, the Fed Chair noted.
Markets are now pricing in about an 87% chance of a 25 basis point rate cut in September.
The white metal also remains underpinned by robust industrial demand and persistent supply deficit.
Silver was last down 0.29% on the day to trade at $38.77 per troy ounce.
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