FX.co ★ Silver Hits Fresh 14-Year High

Silver surged to approximately $43.5 per ounce on Monday, hitting a new 14-year peak as anticipated further rate cuts from the US Federal Reserve enhanced the appeal of precious metals. Recently, the Fed implemented a 25 basis point cut, expected by many, marking the first reduction since December, and hinted at the possibility of two more cuts later in the year. Investors are now eagerly awaiting upcoming Fed communications and an important US inflation report this week for further rate insights. Silver's rise was also supported by strong fundamentals, with constrained supply contributing to its upward trajectory. On the demand front, vigorous consumption from the solar, electric vehicle, and electronics industries provided additional momentum.