Silver

Key insight

Today's FOMC decision is the single biggest intraday catalyst — a dovish hold or rate cut signal could send silver surging back toward $60+, while any hawkish surprise would pressure it below the $56.00 near-term support.

Silver is holding firmly above its key $55.00 psychological support and 50-day MA (~$54.40), with gold at $4,053 driving the gold/silver ratio toward historically undervalued silver territory while renewed Middle East airstrikes sustain safe-haven demand.

Main risk

FOMC Rate Decision — July 29, 2026

A hawkish Fed outcome or a signal that rates will stay higher for longer could strengthen the USD and push silver below the critical $56.00 level, invalidating the short-term bullish structure.