Silver on Track for Weekly Decline as Middle East Tensions Fuel Rate-Hike Worries

Silver (XAG/USD) is trading around $55.50 at the time of writing on Friday, showing little change on the day. However, the precious metal is on track to record a weekly decline, driven by concerns over escalating Middle East tensions that have fueled speculation of further rate hikes.

Market participants are pricing in a more aggressive monetary policy stance as geopolitical risks mount, putting pressure on non-yielding assets like silver. The weekly loss underscores the impact of macro uncertainty on commodity markets.