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Maroc Maroc - FINANCIALMIRROR.COM - A La Une - 02/Sep 14:11

Silver drops to $28.50 on diminishing hawkish mood at Fed

Silver (XAGUSD) extended its losses for the second consecutive session, trading around $28.50 per troy ounce on Monday. This downside could be attributed to the improved risk sentiment following Friday’s US Personal Consumption Expenditures (PCE) Index data for July that led traders to scale back expectations of an aggressive Federal Reserve rate cut in September. Atlanta Fed President Raphael Bostic, a prominent hawk on the FOMC, indicated last week that it might be “time to move” on rate cuts due to further cooling inflation and a higher-than-expected unemployment rate. FXStreet’s FedTracker, which gauges the tone of Fed officials’ speeches on

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