Silver price (XAG/USD) trades on a softer note near $27.30 during the early European session on Wednesday.
Silver price turns red around $27.30 on Wednesday, despite the weaker USD. A relaxation in Middle East geopolitical tensions drags silver price to a two-week low. The rising demand for white metal in industrial uses supports the XAG/USD. Silver price trades on a softer note near $27.30 during the early European session on Wednesday. The easing of tensions in the Middle East and the risk-on environment cap the upside of the white metal.
Investors will take more cues about inflation trajectory and interest rate outlook from the US Q1 Gross Domestic Product number on Thursday and the Core Personal-Consumption Expenditures Price Index,the Federal Reserve's preferredgauge of underlyinginflation, due later on Friday.
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