Silver Trades Near $57.40, Eyes Recovery as Oil Falls on De-escalation Expectations

According to Jin10, silver traded near $57.40 per ounce on Tuesday, July 28, declining after rising roughly 0.5% in the previous session. Oil price weakness, driven by de-escalation expectations in regional tensions, has eased inflation and rate-hike concerns, potentially supporting silver demand.

Traders are focused on the Federal Reserve's policy decision due this week. Markets expect the central bank to keep rates unchanged, though some traders bet on an immediate hike amid persistent inflation. The mainstream consensus suggests any rate increase may be delayed until September.