#Silver Falls As Market Still Await The End of Rate Hikes
Silver is trading lower again this morning as the dollar index has rallied and US bond yields are higher. It’s been a slow start to the week for the precious metals, as the markets await the next Federal Reserve rate decision in 2 weeks.
While the Fed is still expected to leave rates unchanged at the September meeting, and only raise rates another 25 basis points, if at all, in the months going forward, the prospect of higher rates for longer continues to weigh on gold and silver.
The markets are still pricing in interest rate cuts in 2024, which would likely provide a boost to the metals, yet the uncertainty over when the Fed will pause, and eventually begin cutting has left the silver price trading in the $23-35 dollar range for the better part of 2023. And in today’s show I talk with Steve Cope of Silver Viper Minerals about the latest economic data the Fed is looking at, and some of the signs that indicate that the US economy is headed towards recession.
Steve also talks about how the economic environment is affecting the silver mining sector, and how companies are responding to what’s now been an extended correction over the past year and a half.
So to stay up to date on the latest news in the silver space, click to watch this video now!