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Silver Dropped Ahead Of Fed’s Officials Speeches And Key PCE Inflation.
Silver prices experienced a modest decline of -0.54% yesterday, settling at 74518, as investors closely monitored speeches from Federal Reserve officials and awaited the release of key PCE inflation data to gauge the potential timing of monetary easing. The Fed’s previous guidance for three interest rate cuts in 2024 increased the attractiveness of holding non-yielding assets, contributing to market sentiment. Expectations for a June interest rate reduction have surged to around 70%, compared to 55% prior to the recent Fed meeting, indicating market anticipation of accommodative monetary policy
