Silver price continues to lose ground after retreating from the highest level of $32.51, a level not seen since December 2012.
Silver price depreciates as hawkish remarks from Fed officials suggest higher rates for longer. The higher US Dollar is dampening the demand for Silver . Traders await the FOMC Minutes to gain further clues about the Fed's policy stance. The Silver price trades around $31.80 per troy ounce during the European hours on Wednesday. Investors assess recent remarks from Federal Reserve officials, with several policymakers advocating for continued policy caution.
On Monday, the Chinese Commerce Ministry announced a prohibition on General Atomics Aeronautical Systems, a US company, from engaging in import and export activities related to China. This decision comes amid ongoing trade tensions between the United States and China. Additionally, China’s measures to stabilize its property sector are providing some boost to safe-haven assets like Silver.
XAGUSD Commodities Macroeconomics Silver
United States Latest News, United States 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 rises toward $30.00 after higher US Jobless ClaimsSilver price retraces its recent losses registered on Thursday, trading around $29.70 per troy ounce during the Asian hours on Friday.
Read more »
Silver Price Forecast: XAG/USD stays on sidelines around $28.60 ahead of US Inflation dataSilver price (XAG/USD) trades in a confined range around $28.60 in Wednesday’s European session.
Read more »
Silver Price Forecast: XAG/USD rises to near $28.50 due to escalated geopolitical tensionsSilver price extends its gains for the second consecutive session, trading around $28.30 per troy ounce during the early European session on Tuesday.
Read more »
Silver Price Forecast: XAG/USD clings to gains above $28 on Fed rate cut optimismSilver price (XAG/USD) holds onto gains above the crucial figure of $28.00 in Friday’s New York session.
Read more »
Silver Price Forecast: XAG/USD appreciates to near $28.50 after US Initial Jobless ClaimsSilver price extends its gains for the third consecutive session, trading around $28.50 per troy ounce during the Asian session on Friday.
Read more »
Silver Price Forecast: XAG/USD holds gains above $27 on Fed rate-cut optimismSilver price (XAG/USD) falls slightly from weekly high of $27.50 but manages a firm-footing above the crucial support of $27.00 in Tuesday’s late European session.
Read more »