FX.co ★ Silver Set to Gain Nearly 20% Monthly Gain

Silver hovered around $47 per ounce on Tuesday, poised to rise nearly 20% in September, driven by heightened demand for safe-haven assets amid concerns of a potential US government shutdown. The ongoing deadlock results from President Donald Trump's limited progress in negotiating a temporary spending agreement with political rivals, further fueling market uncertainty. Additionally, the US Labor Department issued a warning that it might halt the release of economic data, including this week's crucial monthly jobs report, should a partial shutdown occur. Concurrently, market predictions indicate an anticipated quarter-point cut in Federal Reserve rates in October, with a total easing of approximately 42 basis points by the end of the year. On the supply front, the market received additional support from structural deficits, as the Silver Institute anticipates a fifth consecutive year of deficit in 2025, with demand exceeding supply by more than 100 million ounces, consequently further reducing inventories.