Geopolitical Influence The Israeli Defense Minister’s statements on the escalating Middle East conflict have fueled investor concerns over a broader regional crisis. Though he highlighted the central bank’s commitment to its 2% inflation target, Powell sidestepped making concrete policy predictions, leading to subdued rate hike expectations for the remainder of the year. Short-Term Outlook Given the Fed’s cautious stance and ongoing geopolitical risks, silver is likely to remain a bullish asset in the short term, particularly as higher interest rates increase the opportunity cost of holding the metal.