FX.co ★ Silver Gains as Dollar and Treasury Yields Ease

Silver prices advanced to approximately $38 per ounce on Wednesday, rebounding after a two-day dip as both the US dollar and Treasury yields eased from their recent peaks. This shift occurred as investors reevaluated the Federal Reserve's policy stance and closely watched evolving trade scenarios. The previous day's trading saw silver under pressure after US consumer inflation figures prompted market participants to adjust their expectations regarding the timing of Fed rate cuts. Dallas Federal Reserve President Lorie Logan contributed to a cautious market sentiment by suggesting that the central bank might need to maintain rates at their current levels for an extended period to control inflation, particularly given the upward pressure from tariffs. Simultaneously, trade tensions escalated after US President Donald Trump indicated forthcoming tariffs on pharmaceuticals and semiconductors starting August 1, along with the possibility of over 10% levies on smaller countries.