FX.co ★ Silver Above $92 for the 1st Time

Silver experienced a notable surge, surpassing $92 per ounce on Wednesday as it continued its upward trajectory to new heights. This rise comes as markets assess easing inflation indicators amidst ongoing macroeconomic and political challenges. Recent U.S. data revealed that producer prices met expectations, aligning with a milder Consumer Price Index (CPI) earlier in the week. This data supports the anticipation that the Federal Reserve may begin lowering interest rates later this year. Concurrently, robust retail sales figures underscored strong U.S. consumer spending. Demand for safe assets remained high amid ongoing geopolitical tensions, escalating fiscal debt concerns, and renewed scrutiny of the Federal Reserve's independence following a criminal investigation related to Chair Powell's testimony in June. Additionally, silver continues to be buoyed by a structurally tight supply, with the market enduring a multi-year deficit and constrained liquidity in London. Consistent industrial demand, driven by clean energy technologies and artificial intelligence, further bolsters the metal's upward momentum.