Silver prices experienced an uptick as investors sought refuge in safe-haven assets amid growing worries about global economic growth. The OECD's recent reduction in growth projections has fueled expectations that central banks might extend their easing policies, which could lower Treasury yields and subsequently boost the demand for non-yielding assets like silver. The upcoming Federal Reserve interest rate decision is critical for silver's outlook, and while a hold is expected, the comments from Fed Chair Jerome Powell on future economic projections will be closely monitored. Strong fundamentals, including supply deficits and heightened demand, support silver's upward momentum in uncertain times.
Silver prices have risen as investors pursue safe-haven assets in response to global economic growth concerns.
The OECD's downgrade of growth forecasts has intensified expectations for central banks to prolong their easing cycles, tightening the market.
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