2025.08.2018:29:41UTC+00Silver Climbs on Fed Minutes, Stronger Dollar

Silver prices rose above $37.5 per ounce on Wednesday as the markets considered the Federal Reserve's rate expectations amidst a stronger dollar. The Fed’s July meeting minutes revealed internal disagreements, with the majority favoring steady rates, while two governors advocated for rate cuts—an uncommon dissent in recent decades. Governors Christopher Waller and Michelle Bowman opted for a quarter-point rate reduction instead of maintaining current levels, highlighting the committee's internal divisions. Policymakers pointed to risks from inflation and a weakening labor market, along with uncertainties from tariffs. Attention will next be on Fed Chair Jerome Powell's comments at the Jackson Hole symposium, where markets will be keen to see if he manages to temper expectations for monetary easing. Currently, traders are assigning an 85% probability of a rate cut in September and are factoring in approximately 54 basis points of reductions by the end of the year.