FX.co ★ Silver Holds Near Record Highs

Silver remained steady at approximately $58 per ounce on Monday, staying close to record levels as investors anticipated an interest rate reduction from the US Federal Reserve expected this week. Despite the current stability, the outlook for 2026 is uncertain. Analysts predict a "hawkish cut," suggesting that Chair Jerome Powell might adopt a cautious stance on further rate reductions. In addition to the US, markets are also focused on policy announcements from the central banks of Australia, Canada, and Switzerland, which are anticipated to maintain stable rates. Last week, silver surged to unprecedented levels, driven by several factors: low visible exchange inventories, renewed ETF interest, and projections of another market deficit within the year, all of which point to tightening physical conditions. Moreover, strong industrial demand from the solar sector and other green technologies continues to bolster the medium-term potential for increased prices.