Silver Price Forecast: XAG/USD slips below $60.50 amid rising inflation concerns
Silver price (XAG/USD) loses ground after registering gains the previous day, trading around $60.30 per troy ounce during Asian hours on Friday. Silver price retreats as rising crude oil costs, driven by fears of a deteriorating conflict between the US and Iran, reignite broader inflation concerns.
Silver price (XAG/USD) declined below $60.50 per troy ounce on Friday, as rising inflation concerns weighed on the precious metal. The decline came after silver's gains the previous day and was driven by concerns over rising crude oil costs, which were heightened by fears of an escalating conflict between the US and Iran. Meanwhile, the non-yielding white metal faced additional selling pressure from a strengthening US Dollar and climbing Treasury yields, reflecting investors' recalibrated expectations following hawkish remarks from Federal Reserve officials.
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