Silver price (XAG/USD) price edges lower to near $29.50 per troy ounce during the European hours on Thursday.
Silver price moves sideways as traders remain cautious due to the Jackson Hole Annual Symposium scheduled for August 22-24. Fed Chair Jerome Powell will address the potential for interest rate cuts Annual Symposium on Friday. The Silver could find support due to safe-haven flows amid lacking a truce agreement between Israel and Hamas. Silver price price edges lower to near $29.50 per troy ounce during the European hours on Thursday.
Minutes for July’s policy meeting indicated that most Fed officials agreed last month that they would likely cut their benchmark interest rate at the upcoming meeting in September as long as inflation continued to cool. The safe-haven Silver could find support amid the ongoing deadlock in securing a truce agreement between Israel and Hamas, which raises the risk of a broader conflict in the Middle East.
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