Silver Prices Plummet Below $69 Ahead of Fed Chair Warsh's Keynote
Silver prices have dipped below $69 per ounce as investors await Federal Reserve Chair Kevin Warsh's keynote address at the Jackson Hole Economic Policy Symposium.
The symposium, which runs from August 27 to August 29, is being closely watched for clues on the Fed's future interest rate policy. Since taking over in May 2026, Chair Warsh's policy direction has remained a focal point for global markets.
Investors are weighing persistent inflation against the potential for higher interest rates, which could influence the metal's price direction. The recent economic data release has complicated the outlook, with U.S. PCE inflation standing at 3.7%. CME FedWatch data currently indicates a 74% probability of an interest rate hike by December.
A stronger dollar typically follows higher interest rates, creating downward pressure on non-yielding assets like silver and gold. From a supply and demand perspective, the metal is facing technical headwinds, with increasing global inventory levels providing less support for a sustained price rally.