Silver Price Gains 1.14% Near $57.80 Despite Oil Rebound, Fed in Focus
XAG/USD rose 1.14% to around $57.80 in Asian trade on Wednesday, shrugging off a strong rebound in oil prices driven by renewed US conflicts. Traders now await the Federal Reserve’s policy decision.
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Silver (XAG/USD) advanced 1.14% to trade near $57.80 during the Asian session on Wednesday, building on positive momentum.
The move came even as oil prices rebounded sharply, fueled by renewed conflicts involving the United States. This dynamic often pressures silver, but the metal held its ground.
Traders are now looking ahead to the Federal Reserve’s upcoming policy announcement, which could set the tone for the dollar and precious metals.
Source: FXStreet Forex News