Silver's Rollercoaster Ride Continues Ahead of Federal Reserve Meeting
The price of silver has been experiencing extraordinary turbulence in recent weeks, leaving traders bracing for the Federal Reserve's policy meeting on September 15-16.
The metal's volatility traces back to stronger-than-expected US employment data released on September 4, which reignited speculation that the Fed might adopt a more hawkish stance than markets had previously priced in. As a result, silver prices fell by over 3 percent intraday to $64.46 per ounce.
The damage had actually begun days earlier, with rising global bond yields and a firmer dollar pushing the price down by more than 3 percent on September 1. However, weaker US jobs data and falling yields helped brake the downtrend, stabilizing prices near $64 before climbing back toward $67 per ounce.
The pattern of the past two weeks offers a clear lesson: buyers have shown they will step in on dips, but no sustainable trend can emerge while the Fed's policy direction remains unresolved. For investors, the coming days promise continued nervousness, and the only certainty is that the next major move will be dictated not by supply fundamentals, but by whatever signals emerge from Washington.