Silver prices climbed toward $60 per ounce, pausing the sharp slide that had taken them to a seven‑month low of $57 on June 24. The metal has recently outperformed gold, as expectations of robust industrial demand helped offset pressure from a still‑restrictive Federal Reserve.
Shares of chipmakers and data‑center developers rallied for a second consecutive session, reflecting renewed long positioning on the build‑out of computing capacity. This activity brightened the outlook for silver consumption, given the metal’s conductivity and its growing role in AI‑related infrastructure.
Even so, the Fed’s hawkish stance continued to weigh on non‑yielding assets. Strong labor‑market data, together with surveys indicating rising inflation expectations, led a significant share of FOMC members to signal the possibility of more restrictive policy this year.
In addition, fixed‑income markets faced the prospect of reduced supply as Fed Chair Warsh advocated for a smaller Fed balance sheet. Such a shift would unwind the “debasement trade” that had taken hold in late 2025.
