Silver price (XAG/USD) trades with mild losses around $27.85 after retracing from the fresh three-year high of $28.53 during the early European session on Thursday.
Silver price loses momentum near $27.85 on the stronger USD on Thursday. Precious metals traders do not seem too concerned about U.S. inflation reports that came in higher than expected. Rising industrial demand and escalating geopolitical tensions in the Middle East boost the silver price. Silver price trades with mild losses around $27.85 after retracing from the fresh three-year high of $28.53 during the early European session on Thursday.
This might limit the upside of silver as the gray metal becomes less attractive compared to interest-bearing assets. Fed Funds Futures market pushed expectations for the first rate cut from June to September, according to the CME FedWatch Tool. On the other hand, rising industrial demand and its attraction to an alternative inflation hedge might cap the downside of silver prices.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Silver Price Forecast: XAG/USD hovers near two-year high around $28 despite higher bond yieldsSilver price (XAG/USD) faces a nominal sell-off after printing a fresh two-year high around $28.00 in Monday’s early New York session.
Read more »
Silver Price Forecast: XAG/USD rises to near $28.00, tracking rally in goldSilver price advances for the third consecutive session, trading higher to near $28.00 per ounce during the early European hours on Tuesday.
Read more »
Silver Price Analysis: XAG/USD peaks to new three-year high above $27.00Silver soared sharply and finished the week with gains of close to 10%, hitting three-year highs after reaching levels last seen in June 2021.
Read more »
Silver Price Analysis: XAG/USD moves away from YTD peak, slides below $25.00 markSilver (XAG/USD) remains under some selling pressure for the second successive day on Tuesday and retreats further from the YTD peak, around the $25.45 region touched last week.
Read more »
Silver Price Analysis: XAG/USD dips below $27.00 after hitting multi-year highSilver’s retreats after hitting a two-and-a-half-year high of $27.33 amid growing speculations of geopolitical risks due to Israel’s attack on Iran’s embassy in Syria.
Read more »
Silver Price Analysis: XAG/USD tips top of range and reverses lowerSilver price (XAG/USD) is trading in the $24.750s on Friday, after touching the top of a multi-month range at roughly $25.700 and reversing lower.
Read more »