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Silver prices remained stable on Monday, trading around $38.90 an ounce, despite a 0.1% intraday loss after briefly hitting $39 earlier in the day for the first time in a month. In New York, silver futures dropped by 0.6% to $38.82 per ounce.
Last week, silver gained 2% as investors anticipated a Federal Reserve rate cut. Following a speech by Fed Chair Jerome Powell, markets now estimate a nearly 90% chance of a rate cut in September. Year to date, silver has increased over 34%, surpassing gold’s performance.
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