Silver Drops as US-Iran Deal Hopes Dent Safe-Haven Demand
Silver fell 1.71% to around $57.40 on Tuesday, pressured by a stronger dollar and reduced safe-haven appetite amid optimism over a potential US-Iran deal ahead of the Fed decision.
XAGUSD
Silver (XAG/USD) declined 1.71% on Tuesday, trading near $57.40 at the time of writing. The move comes as hopes for a US-Iran deal improved risk appetite, prompting investors to scale back positions in safe-haven assets like precious metals.
A strengthening US dollar added to the selling pressure. The decline also takes place ahead of the Federal Reserve's monetary policy announcement, which could further influence the metal's direction.
Source: FXStreet Forex News