During the Asian trading session on Monday, the price of Silver (XAG/USD) remains stable at approximately $30.85 per ounce, maintaining its upward trajectory. The surge is primarily attributed to growing anticipation that the Federal Reserve might implement a substantial 50 basis point interest rate cut in its upcoming meeting. The weakening of the US dollar and the decrease in Treasury yields are making Silver more appealing to international investors. Given that Silver is priced in dollars, a weaker dollar makes it more affordable for buyers using other currencies, leading to an uptick in global demand. The anticipation of a significant rate cut by the Federal Reserve is dampening the appeal of dollar-denominated assets, which is reflected in the current weakness of the US Dollar Index (DXY) trading near 100.81. Furthermore, the lower interest rates on 2-year and 10-year US Treasury bonds at 3.58% and 3.65%, respectively, are contributing to the declining attractiveness of the dollar, further bolstering the demand for Silver as a safe-haven asset. The economic outlook of China also plays a significant role in determining the price of Silver. Recent economic indicators from China have been mixed, introducing uncertainty in the markets. Silver’s utilization in various industrial applications such as electronics, solar panels, and automotive components links its demand closely to China’s economic performance. As China is a major global manufacturing center, any increase in industrial activity in the country could result in higher Silver consumption. Conversely, a slowdown in industrial performance might lead to a decrease in demand for Silver. In terms of short-term projections, Silver is currently trading at $30.85, nearing a critical resistance level at $31.10. A breakout above this level could trigger further price increases, while remaining below it may maintain a bearish short-term outlook for Silver. Traders are advised to monitor the $31.10 level closely, as surpassing it could shift the momentum towards a more bullish trend, whereas failing to do so may keep the short-term outlook bearish.