FX.co ★ Silver Hovers 14-Year High After Powell Comments

On Wednesday, silver maintained its position above $44 per ounce, remaining close to a 14-year peak, as traders reevaluated the Federal Reserve's perspective following Chair Jerome Powell's measured comments. Powell noted that the timing for potential rate cuts is still uncertain, underlining the Fed's ongoing challenge in balancing inflation control with emerging signs of weakness in the labor market. He also mentioned that inflation driven by tariffs has thus far been at the lower range of projections, suggesting potential for a less restrictive policy approach. In terms of industrial usage, silver continues to benefit from strong fundamentals, with prices being supported by limited supply alongside steady demand from manufacturers of solar panels, electric vehicles, and electronics.