FX.co ★ Silver Holds Steady Ahead of US Data

Silver prices hovered just below $44 per ounce on Thursday, maintaining proximity to a 14-year peak, as investors awaited significant US employment and inflation data that could influence the Federal Reserve's policy direction. Anticipated releases include weekly jobless claims later today, followed by the PCE price index on Friday. Recent remarks from the Federal Reserve have complicated the outlook for further monetary easing, leading traders to no longer fully anticipate a rate cut in the upcoming month. Currently, market expectations include a total reduction of 43 basis points across the Fed's remaining meetings for this year. This week, Fed Chair Jerome Powell emphasized that inflation driven by tariffs has remained at the lower end of projections, providing room for a potentially less restrictive policy approach. On the industrial front, silver continues to benefit from strong underlying factors, with limited supply and consistent demand from sectors such as solar energy, electric vehicles, and electronics contributing to price stability.