Silver edges higher ahead of Fed rate decision

Spot silver surpassed $61,000 during Asian trading as its rally continued ahead of the Federal Reserve's interest rate announcement. The precious metal has more than doubled this year, fueled by persistent high inflation, supply constraints, and increasing demand from sectors like electronics and solar panels. Mining supply has decreased over the last decade while demand grows, resulting in a structurally tight market. Furthermore, market expectations, showing an 87.6% likelihood of a Fed rate cut on Wednesday according to CME FedWatch, are boosting silver prices. A rate cut, combined with existing supply tightness and strong industrial/investment demand, is expected to further support silver's upward trajectory, which is currently outperforming both gold and stocks year-to-date.

(Source：Crypto Briefing)