Silver (XAG) Forecast: Powell Testimony, CPI, and PPI—Silver Outlook Hangs in Balance

Silver Market Recap: Is Another Breakout Ahead?

Silver extended its rally last week, reaching a multi-month high of $32.65 before easing slightly. The metal remains well-supported by industrial demand and safe-haven flows, but the Federal Reserve’s cautious stance on rate cuts, stronger-than-expected wage growth, and rising Treasury yields have slowed its momentum.

Traders are now turning their attention to this week’s inflation data and Fed Chair Jerome Powell’s testimony before Congress, both of which could determine whether silver regains upside traction or faces near-term pressure.