Silver knows no brakes: Historic record hit ahead of Fed decision
Ahead of the interest rate decision to be announced by the Fed this evening, silver prices have surpassed the 61 dollar level to reach an all-time high, while gold maintains a flat course before the meeting.
12punto
As global markets turn their eyes to the interest rate decision to be announced by the US Federal Reserve (Fed) this evening, a remarkable divergence is occurring in precious metals. While gold exhibits a flat outlook ahead of the critical meeting, silver prices are effectively rallying and testing historic levels.
CAUTIOUS COURSE IN GOLD
On the day the Fed's two-day meeting concludes, the ounce price of gold has stabilized at the 4 thousand 207 dollar level.
In the Turkish domestic market, gram gold is trading at 5 thousand 759 TL based on screen prices.
In the Grand Bazaar, the figures are higher: gram gold is finding buyers at 5 thousand 840 TL, and quarter gold at 9 thousand 519 TL.
RECORD AFTER RECORD IN SILVER
Intense demand from industrial production and the technology sector is rapidly driving silver prices upward. A new peak has been seen in silver due to the impact of artificial intelligence investments, data centers, and the increase in electric vehicle production.
Ounce silver reached 61.47 dollars in the morning hours, surpassing its all-time high.
MARKETS LOCKED ON THE FED
The Federal Open Market Committee (FOMC) meeting, where the Fed will announce its interest rate decision, will conclude this evening at 21:00 Turkey time.
Immediately following the decision, Fed Chair Jerome Powell will make evaluations at a press conference.
According to market pricing, the probability of the Fed opting for a 25 basis point interest rate cut stands at 88 percent.