Global Market Movers: Comex Silver price makes another headway toward $29.00

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  • Silver price extends its upside around $28.50 in Thursday’s early European session. 
  • Rising industrial demand and ongoing tensions in the Middle East benefit the white metal. 
  • ANZ commodity analysts said that Silver still has significant potential, even after hitting solid resistance at $29.90 last week.
  • The higher chance that the Fed will delay its easing cycle might cap the upside of the ilver price.
  • Fed Cleveland President Loretta Mester said on Wednesday that inflation is higher than anticipated and the Fed needs more confidence in its trajectory.
  • Earlier this week, Fed Chair Jerome Powell emphasized that he will wait for more evidence to gain confidence that inflation is headed toward the central bank’s 2% goal before lowering borrowing costs. 

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