Silver Slides Amid Renewed Middle East Tensions, Fed Uncertainty
Silver price (XAG/USD) fell 0.73% to near $59.50 during European trading on Friday, reversing early gains as renewed Middle East hostilities and Federal Reserve rate concerns weighed on the metal.
Silver (XAG/USD) gave up early gains on Friday, sliding 0.73% to trade near $59.50 during the European session. The white metal turned negative as renewed geopolitical tensions in the Middle East heightened safe-haven demand for the US dollar, pressuring XAG/USD.
Market participants also reassessed the Federal Reserve's next policy move, with fears that the central bank may keep interest rates higher for longer, reducing the appeal of non-yielding assets like silver.
The decline highlights the ongoing sensitivity of precious metals to both geopolitical risks and monetary policy expectations.
Source: FXStreet Forex News