Silver’s Tight Hold: Nearly $38, but the World’s Still Chilling the Buys
Silver Traded at a Close Range
On Tuesday, global silver prices kept their composure, hovering right around $38 per ounce. Think of it as someone holding a steady hand on a seesaw, though the seesaw’s tilting moments are minor.
Speculators are still pumping with confidence
- Non‑commercial traders riding the silver wave have built a net long stance, showing they see more upside ahead.
- ETP inflows of about 95 million ounces in the first half of the year have pushed total held silver to roughly 1.13 billion ounces. That’s a bullish force field.
Geopolitical Calm dials the price down
President Donald Trump just had a chin‑wag with European leaders and is pushing for a direct consult between Putin and Zelensky. The good news? Progress means safer havens might shrink, which could put a slight slap on silver’s bullish vibe.
Fed‑Holiday Focus: Jackson Hole on the Horizon
Heads are on the lookout for the Federal Reserve’s annual Jackson Hole convening. While economic watchers are baffled by a patchwork of signals, inflation is still in the hot seat. Producer prices rose higher than any poll predicted, and markets are now betting on just two interest‑rate cuts— one in September and another in December— instead of the earlier expectation of three.
Implications for Silver & Treasury Yields
Every bite of potential cut tightens the squeeze on silver, while boosting U.S. Treasury yields. Keep an eye on the gold‑silver dance; it’s often punctuated by such policy cues.
