Silver holds near $65.40 as softer Fed bets buoy outlook
Silver is trading in a narrow range around $65.40 in Asian hours, with fading hawkish Federal Reserve expectations supporting the metal's outlook.
XAGUSD
Silver (XAG/USD) is confined to a tight range near $65.40 during Thursday’s Asian session, according to the post. The metal is struggling for clear direction in early trade.
The outlook has improved, however, as market participants scale back hawkish Federal Reserve bets. The post points to expectations of slower US inflationary pressures in July as a key factor behind that shift.
The combination of rangebound spot action and easing rate expectations leaves silver watching incoming US inflation data for the next move.
Source: FXStreet Forex News