Lates News

Institutional analysis indicates that after experiencing eight consecutive trading days of increases, the price of silver has stabilized, as traders took profits from the recent overheated rally, causing prices to pull back from the historical highs set earlier this week. Silver fell more than 2% the previous trading day, ending the eight-day winning streak. Thursday's pullback took silver out of overbought territory. The current silver rally is mainly driven by market expectations of a rate cut by the Federal Reserve at its meeting next week. Interest rate swap contracts show that a Fed rate cut is almost a certainty, which is favorable for non-interest-bearing precious metals. Even though the latest initial jobless claims number has dropped to a three-year low, the market's bet on a rate cut remains strong.