Silver

Key insight

Silver is consolidating just below the critical $60 round-number resistance — a sustained break above that level would open a direct path toward the $65–$70 zone and reinforce the dominant bull trend from 2025's lows near $28.

Silver is holding above the key psychological $58 level and printed a fresh multi-week high at $59.10 on July 30, with bullish momentum driven by a Fed hold, escalating Middle East conflict, and a weaker USD.

Main risk

Fed September Rate Hike Pricing (60% probability)

Markets are pricing roughly a 60% chance of a Fed rate hike in September, which would strengthen the USD and weigh on silver's non-yielding safe-haven appeal — a confirmed hike decision could push price back toward the $55 support.