Silver prices held firm above $36.20 per ounce on Thursday after gaining nearly 1% in the previous session, as a weaker dollar and falling Treasury yields continued to support the metal. The move comes amid growing expectations for Federal Reserve rate cuts following dovish signals from Chair Jerome Powell.
Powell reiterated on Wednesday that interest rates should remain on hold due to inflation risks linked to the Trump administration’s tariffs, but suggested the Fed would have likely continued easing in their absence. On the geopolitical front, US officials prepare to meet with their Iranian counterparts next week and the Iran-Israel ceasefire remains intact. In addition to macro tailwinds, silver benefited from firm industrial demand and lingering supply constraints. The metal has notably outperformed gold in June, gaining around 10% compared to gold’s more than 1% rise.
