Silver Rises on US-Iran Diplomatic Progress, Upside Capped by Hawkish Fed
Silver (XAG/USD) edged higher on Monday, snapping a three-day losing streak, as diplomatic progress between the US and Iran boosted investor interest, though gains were limited by a hawkish Federal Reserve outlook.
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Silver traded around $65.90 at the time of writing on Monday, up 1.69% on the day and breaking a three-day losing streak. The white metal attracted renewed investor attention as markets assessed the implications of diplomatic progress between the United States and Iran.
However, the upside remained capped by a hawkish stance from the Federal Reserve, which continues to weigh on precious metals. Traders are monitoring further developments in US-Iran talks and any additional cues from Fed policymakers.
Source: FXStreet Forex News