Silver climbs back above $58 as rate hike fears return to markets

Silver prices on July 24 pushed back above $58 per ounce, recovering part of the losses from previous sessions. The primary driver was markets reconsidering the likelihood of a Fed rate hike, as oil prices near $100 intensified inflation expectations, which traditionally boosts demand for safe-haven assets. Silver gains an additional advantage from its industrial demand component, as the metal is widely used in solar energy and electronics manufacturing. However, elevated US Treasury yields create a headwind by raising the opportunity cost of holding non-yielding assets. Investors in Kazakhstan may view silver as a portfolio diversifier amid ongoing global volatility.