🔥 Hawkish Waller speaks, and silver collapses immediately! Comex silver futures plunge 4.48%!
#纽约白银期货跌3%
On August 28, Federal Reserve Chair Waller delivered his “debut” speech at the Jackson Hole Global Central Bank Conference. The precious metals market was hit hard. Comex September-delivery silver futures dropped 4.48% to $67.09 per ounce; spot silver tumbled 4.24% to $66.21. Comex gold futures also fell sharply, down 3.43%.
📋 What exactly did Waller say?
Waller sent clear hawkish signals, reaffirming that the 2% inflation target is “firm and fixed,” and warning that if inflation does not slow down fast enough, the Fed “still has work to do.” He acknowledged that consumer spending is healthy and the labor market remains steady, but when discussing price stability, he said the relevant data is “more concerning.”
The market quickly interpreted this as the door to a September rate hike not being closed. The probability of a September rate hike implied by federal funds futures surged from around 36% to 57.5%. Two-year U.S. Treasury yields jumped 11.8 basis points to 4.348%, while the U.S. dollar index strengthened in tandem.
💥 Why did silver fall even worse than gold?
The gold-to-silver ratio widened noticeably that day, reflecting that silver—because it has both industrial attributes—suffers more when rate-hike expectations tighten. Silver’s earlier push to break above the $70 level failed, and the short-term technical structure has been visibly damaged. Waller also mentioned that the AI-related capex boom is driving companies to ramp up investment quickly, providing fresh arguments for maintaining a restrictive monetary policy.
📊 Near term: Precious metals will face continued pressure
This speech reshaped market expectations for a “higher for longer” interest-rate environment. The synchronized rise in the dollar and Treasury yields will keep weighing on precious metals. Before the Fed’s September policy meeting, additional economic data to be released will be key reference points for the market to judge the policy direction.
In one sentence: Waller’s hawkish remarks reignited rate-hike expectations. Silver suffered a more brutal sell-off than gold due to its industrial profile; after the failed push through the $70 level, the short-term technical picture is clearly impaired.
Guys, do you think the Fed will really hike rates in September?
$XAG
$XAU
$BZ
#纽约白银期货跌3%
On August 28, Federal Reserve Chair Waller delivered his “debut” speech at the Jackson Hole Global Central Bank Conference. The precious metals market was hit hard. Comex September-delivery silver futures dropped 4.48% to $67.09 per ounce; spot silver tumbled 4.24% to $66.21. Comex gold futures also fell sharply, down 3.43%.
📋 What exactly did Waller say?
Waller sent clear hawkish signals, reaffirming that the 2% inflation target is “firm and fixed,” and warning that if inflation does not slow down fast enough, the Fed “still has work to do.” He acknowledged that consumer spending is healthy and the labor market remains steady, but when discussing price stability, he said the relevant data is “more concerning.”
The market quickly interpreted this as the door to a September rate hike not being closed. The probability of a September rate hike implied by federal funds futures surged from around 36% to 57.5%. Two-year U.S. Treasury yields jumped 11.8 basis points to 4.348%, while the U.S. dollar index strengthened in tandem.
💥 Why did silver fall even worse than gold?
The gold-to-silver ratio widened noticeably that day, reflecting that silver—because it has both industrial attributes—suffers more when rate-hike expectations tighten. Silver’s earlier push to break above the $70 level failed, and the short-term technical structure has been visibly damaged. Waller also mentioned that the AI-related capex boom is driving companies to ramp up investment quickly, providing fresh arguments for maintaining a restrictive monetary policy.
📊 Near term: Precious metals will face continued pressure
This speech reshaped market expectations for a “higher for longer” interest-rate environment. The synchronized rise in the dollar and Treasury yields will keep weighing on precious metals. Before the Fed’s September policy meeting, additional economic data to be released will be key reference points for the market to judge the policy direction.
In one sentence: Waller’s hawkish remarks reignited rate-hike expectations. Silver suffered a more brutal sell-off than gold due to its industrial profile; after the failed push through the $70 level, the short-term technical picture is clearly impaired.
Guys, do you think the Fed will really hike rates in September?
$XAG
$XAU
$BZ