| 20 Sep 2024 13:20 | | Silver and copper surge amid Fed rate cuts | | | Silver and copper prices saw significant gains in mid-September, driven by the Federal Reserve's aggressive 50 basis point rate cut. Silver climbed above $31 per ounce, reaching its highest level in two months, as easing measures raised hopes for a soft landing in the US economy and potential policy adjustments in other major economies. Copper futures surged above $4.3 per pound, reflecting an improved global economic outlook and increased appetite for risk assets. Despite China keeping key lending rates unchanged, markets remain optimistic about further stimulus following disappointing economic data. Additionally, energy shortages in Zambia are impacting copper production, raising concerns about supply. Together, these factors contribute to a bullish sentiment in both silver and copper markets.
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