Silver price recovers the previous session's losses, trading around $29.50 per troy ounce during Monday's Asian hours.
Silver price rebounds from a three-week low of $29.11 recorded on Friday. Non-yielding Silver struggled as the probability of a Fed rate cut in September decreased compared to the previous week. Rabobank suggested that the Fed may cut rates in September and December, more likely because of a deteriorating economy. Silver price recovers the previous session's losses, trading around $29.50 per troy ounce during Monday's Asian hours.
44%, respectively, at the time of writing. A strong US jobs report could cause the Federal Reserve to keep higher rates for an extended period. According to the CME FedWatch Tool, the probability of a Fed rate cut of at least 25 basis points in September has decreased to nearly 48.0%, down from 54.8% a week ago. However, Rabobank suggested in its report that the Fed may cut rates in September and December, more likely because of a deteriorating economy.
Commodities Macroeconomics XAGUSD Silver
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