Silver Climbs Above $60.00 as Dollar Softens Ahead of Fed Minutes
Silver price edged higher to near $60.35, breaking a two-day losing streak, as the US Dollar weakened ahead of the release of the June FOMC meeting minutes.
XAGUSD
Silver (XAG/USD) rebounded during the early European session on Wednesday, trading around $60.35 and halting a two-day decline. The precious metal benefited from a softer US Dollar as market participants awaited the June Federal Open Market Committee (FOMC) meeting minutes.
The dollar eased against a basket of major currencies, making dollar-denominated commodities like silver more attractive to foreign buyers. The focus now shifts to the FOMC minutes, which may shed light on the central bank’s policy path and any implications for metals prices.
Source: FXStreet Forex News