Silver Price Rises Toward $57.00 Despite Fed Hike Bets

Silver extended its upward move for a second consecutive session, with XAG/USD trading around $56.80 per troy ounce during Asian hours. The precious metal is approaching the $57.00 level.

The rally comes despite growing expectations that the Federal Reserve will continue hiking interest rates, a scenario that typically pressures non-yielding assets like silver. However, the metal has found support from factors such as geopolitical uncertainty and industrial demand.

Price action remains driven by Fed policy expectations and broader risk sentiment. Traders are now watching for any catalyst that could break silver above the $57.00 resistance.