Silver Price Rises Above $62 for Fourth Day on Easing Inflation Fears
Silver (XAG/USD) extended gains for a fourth straight session, trading around $62.20 per ounce as easing inflation concerns boosted the metal.
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Silver prices continued to climb, with XAG/USD ticking higher for a fourth consecutive day. The white metal traded near $62.20 per troy ounce during Asian hours, breaching the $62.00 mark.
The move comes as markets respond to signs of easing inflation pressures, reducing the urgency for aggressive monetary tightening. Softer price growth typically supports non-yielding assets like silver.
Traders are now watching key resistance levels after the recent run-up, but the short-term trend remains constructive as long as macroeconomic data continues to show cooling inflation.
Source: FXStreet Forex News