FX.co ★ Silver Falls for Second Session

Silver prices fell below $77 per ounce on Thursday, continuing a downward trend from the previous day as the earlier bullish surge that propelled precious metals to near-record highs began to wane. This decline was further influenced by a strengthening dollar, brought on by mixed U.S. economic data that provided limited insights into the Federal Reserve’s policy direction. Currently, market predictions suggest a nearly 90% likelihood that the Fed will leave interest rates unchanged at its upcoming meeting. However, traders still expect several rate cuts later in the year. On the geopolitical stage, investors are considering the ramifications of U.S. involvement in Venezuela and the increasing tensions between China and Japan—factors likely to maintain a demand for safe-haven assets. Nonetheless, silver prices remained near historical peaks, buoyed by supply constraints and strong demand from both industrial uses and investment activities.