Forex
Warsh's Speech Could Temper Silver Rally Towards $70
Silver prices rose nearly 3% on Thursday to around $69.50 as investors await Kevin Warsh's speech at the Jackson Hole Symposium for clues about the US interest rate outlook.
The rise in Silver is approaching the upper end of its weekly range, but hawkish comments from several policymakers and persistent inflation could limit its upside potential.
A similar message on Friday from Federal Reserve Chair Kevin Warsh could reinforce expectations that interest rates will remain elevated for longer, an environment generally unfavorable for Silver, which offers no yield.