FX.co ★ Silver Poised for Seventh Weekly Advance

Silver prices dipped under $47 per ounce on Friday, yet they still appeared poised for a seventh consecutive week of gains. This trend is buoyed by anticipated reductions in US interest rates and uncertainties stemming from the ongoing government shutdown. Recent economic data from the US has reinforced expectations of further monetary easing, with market analysts almost entirely banking on a 25 basis point reduction this month and another by December. Politically, while the shutdown's direct impact has been limited, it has nonetheless intensified concerns about fiscal policy, potential inflation, and labor market fragility. The shutdown has also led to a data blackout, prompting the Labor Department to postpone the release of September’s nonfarm payrolls report, originally scheduled for Friday. In addition to these macroeconomic influences, silver is also supported by supply-side factors, with the Silver Institute forecasting a global market shortage for the fifth consecutive year in 2025.