With US inflation expected to remain elevated, markets expect the Federal Reserve to keep interest rates higher for longer, with further hikes possible. “High inflation, a hawkish Fed and high bond yields are drawing investors away from gold and silver towards US Treasuries. In this situation, silver prices could stay in the current range. The Fed’s stance in December will decide the outlook from here,” said Tapan Patel, fund manager – commodities, Tata Mutual Fund.
