Silver Prices Stuck as Fed Pause Meets Rising Energy Costs

Silver prices have been stuck in a tight range since July 8, unable to break above $60. The metal is currently trading near $57.86, down from Wednesday's close due to a mix of conflicting forces.

The Federal Reserve's decision to leave interest rates unchanged has provided some relief for silver, which benefits from a weaker US dollar. However, the prospect of further Fed tightening due to rising energy prices and military tensions in the Middle East threatens to cap gains.

Despite this, major financial institutions remain bullish on silver, with Commerzbank reaffirming its year-end target of $67 per ounce and J.P. Morgan maintaining a 2026 price target of $81.