Silver prices slightly declined by 0.01% to 85,658, driven by higher U.S. bond yields and awaited inflation data. The Federal Reserve emphasized the need to adjust monetary policy due to labor market risks and confidence in inflation’s 2% target.
U.S. durable goods orders exceeded expectations in July, shaping market expectations. Future rate adjustments remain under scrutiny.
Fed officials, including the San Francisco Fed President and Fed President, have dovishly emphasized the need to reduce interest rates due to a cooling labor market and geopolitical tensions in the Middle East.
India’s silver imports are expected to double this year, driven by increased demand from solar panel and electronics sectors and investor interest in silver.
