Silver price extends its losses for the second consecutive session, trading around $30.30 per troy ounce during the early European hours on Thursday.
Silver price continues to lose ground as FOMC Minutes suggest the Fed to be hawkish on policy stance. Fed policymakers are concerned as inflation has proven to be more persistent than expected at the start of 2024. The safe-haven asset, silver, may receive support as tensions escalate between China and Taiwan.
On Tuesday, Federal Reserve Bank of Boston President Susan Collins stated that progress toward interest rate adjustment will take longer and emphasized that patience is the right policy for the Fed, per Reuters. The safe-haven asset, Silver, may experience an increase in demand as tensions escalate following Lai Ching-te's assumption of office as Taiwan's new president.
XAGUSD Commodities Macroeconomics Silver
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