Silver Ag - Bullish $ 30 +
Silver jumped almost 4% to $29.8 per ounce on Thursday, building on recent gains fueled by expectations that major central banks will soon begin a rate-cutting cycle. The European Central Bank lowered rates by another 25 basis points, while investors are anticipating the Federal Reserve to also begin easing policy next week. According to the CME FedWatch tool, markets now see a 71% probability of a 25-basis-point rate cut at the Fed's September 17-18 meeting, with a 29% chance of a larger 50-basis-point cut. Additionally, markets are evaluating demand prospects in China, the world's top consumer, after mixed economic indicators, along with the growth of the renewable energy sector, where silver is a crucial component in solar panel production.