Silver prices are likely to remain range bound through this month as central banks around mull dialling back their massive pandemic-era stimulus.
Earlier this week, Fed policymakers signalled that the central bank remains on track to trim its $120 billion in asset purchases this year, despite the slowdown in jobs growth seen in August and the impact of the recent COVID-19 resurgence.
Elsewhere, the European Central Bank’s announced plans to slow down bond buying under its pandemic emergency purchase programme (PEPP) in response to higher inflation.
With the ECB meeting now in the rear-view mirror, traders are now shifting their attention to the Federal Reserve’s September monetary policy meeting. This key event is also likely to be dominated by the narrative of surging inflation, which is now beginning to snowballs into a problem that central banks across the world can no longer control.
Where are prices heading next? Watch The Commodity Report now, for my latest price forecasts and predictions:
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