Spot Silver again neared its 1-month high of $39.06/oz. on Thursday, as market players awaited the US PCE inflation data for fresh clues on the Federal Reserve’s monetary policy trajectory.
At the annual symposium in Jackson Hole, Federal Reserve Chair Jerome Powell hinted at a possible rate cut in September, as risks to the job market were rising.
New York Fed President John Williams also said a rate cut was being considered, echoing Powell’s remarks.
Markets are now pricing in about an 89% chance of a 25 basis point rate cut in September, compared to 82% a week ago.
The white metal also remains underpinned by robust industrial demand and persistent supply deficit.
Spot Silver was last up 0.67% on the day to trade at $38.85 per troy ounce.
TradingPedia.com is a financial media specialized in providing daily news and education covering Forex, equities and commodities. Our academies for traders cover 
