Silver price (XAG/USD) faces an intense sell-off and drops to $27.30 in Monday’s early American session.
Silver price witnesses bloodshed drops vertically to $27.30 as safe-haven demand eases. The demand for safe-haven assets weakens as fears of widening Middle East conflict ease. The US Dollar and bond yields rise as investors see the Fed keeping interest rates higher for longer. Silver price faces an intense sell-off and drops to $27.30 in Monday’s early American session. The white metal falls on the backfoot as investors expect that conflicts in the Middle East region will not widen further.
On Friday, Chicago Fed Bank President Austan Goolsbee said, “Given the strength of the labor market and progress on easing inflation seen over a longer arc, I believe the Fed's current restrictive monetary policy is appropriate, Reuters reported. This has also improved the appeal of the US Dollar. The US Dollar Index jumps higher to 106.30 as the Fed maintains that interest rates need to remain at their current levels for a longer period.
XAGUSD Fed Middleeast Dollarindex Silver
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