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Silver (XAG/USD) mirrored gold’s cautious tone, hovering near $33.54 per ounce. Both precious metals continue to benefit from the softer dollar and rising expectations that the Federal Reserve may lower interest rates later this year. Futures markets are now pricing in at least two 25-basis-point rate cuts by year-end, amid slowing U.S. inflation and tepid economic growth.
Market Sentiment Focuses on Upcoming U.S. Economic Reports
Investors are closely watching upcoming U.S. economic data for further clues on monetary policy.
Key releases this week include durable goods orders, preliminary GDP figures, and the Personal Consumption Expenditures (PCE) price index, all scheduled before Friday.
Minneapolis Fed President Neel Kashkari recently warned that prolonged tariff policies could risk stagflation, reinforcing market bets on a dovish shift from the central bank.
While trade delays eased market anxiety, broader geopolitical tensions continue to lend support to safe-haven assets. Escalating conflicts in Eastern Europe and ongoing Middle East unrest have sustained demand for gold and silver as investors hedge against uncertainty.
In the near term, traders are likely to remain cautious, awaiting clarity from the Federal Open Market Committee (FOMC) minutes on Wednesday, which may offer additional insights into the Fed’s rate-cutting timeline.
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