Fed Rate Hike Silver Pressure
Increased probability of a September Federal Reserve rate hike reduces the appeal of non-yielding assets like silver
Too little corroboration in the last 3 days to call a trend (4 articles). Watching for it to gain traction.
"However, the white metal continues to face pressure from the high probability of a rate hike later in the year, as minutes from the FOMC suggested that the US Federal Reserve may raise rates fueled by inflationary concerns."
"The biggest trigger behind silver's slide has been worries of higher US interest rates. Even though it appears Fed won't hike rates in September, a possibility can't be ruled out."
"So, till the expectations of a September rate hike do down, or oil prices crash, silver prices are likely to consolidate around current levels."
"market participants have increased the probability of a September US Federal Reserve interest rate hike to 51 %, reducing the appeal of non-yielding assets such as silver"