Silver Price Mid-Month Turnaround: Panic Sell-Off Followed by Calm Amid Rate Cut Expectations

Publicado: Aug 31, 2024 22:44
[SMM Analysis: Silver Price Reversal in Mid-Month - Calm after Frenzy] At the beginning of the month, the price of silver continued to decline. Subsequently, the Japanese stock market experienced a "circuit breaker," prompting investors to sell financial assets in exchange for cash, which led to a panicked sell-off of financial assets and a continuous decline in silver prices. Subsequently, several officials from the Federal Reserve indicated that interest rates would be cut in the future, continuously feeding the market with interest rate cut news. On the evening of August 23, Federal Reserve Chairman Powell delivered a speech stating that he would pay more attention to labor market data compared to inflation figures, further reinforcing the message of potential interest rate cuts. However, as the market had anticipated interest rate cuts since the first half of the year, the price of silver increased moderately...

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