Silver in Waiting Phase Ahead of FOMC Minutes

Silver is trading near the 60.00-60.60 participation zone as investors await the release of the FOMC Minutes, which will provide greater clarity on how policymakers balance resilient economic activity with gradually moderating inflation pressures.

The market has already absorbed last week's softer payroll signal, allowing Treasury yields to stabilize after the initial repricing. Investors are now looking beyond individual economic releases and toward the broader policy discussion contained in the FOMC Minutes.

Silver continues to trade through a broader participation framework than gold, with industrial demand linking the metal to manufacturing activity, electronics production, solar installations, electrical infrastructure, and investment across the energy transition. Although manufacturing indicators have softened during recent months, activity continues to expand across several sectors, while expectations surrounding industrial demand remain considerably more stable than earlier this year.

The technical structure remains constructive despite a recent pullback, with initial resistance developing near 60.90, followed by the broader participation area around 61.60. Acceptance above those levels would strengthen the recovery structure and reopen the path toward 63.00.