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Silver
Source: Newsmaker.id
Silver prices weakened during Thursday's trading, with XAG/USD dropping approximately 0.93% to US$66.68 per troy ounce. In Wednesday's session, the metal traded around US$67.31 per ounce.
This latest decline indicates that silver is struggling to sustain upward momentum following a period of high volatility in recent sessions. Year-to-date, silver prices have fallen by approximately 6.19%.
Silver's movement remains influenced by the outlook for US monetary policy. High Treasury yields and expectations that the Federal Reserve may maintain a tight policy stance are weighing on the non-yielding precious metal.
Meanwhile, geopolitical tensions in the Middle East and high oil prices are creating a complex market sentiment. While geopolitical risks could boost safe-haven demand, the surge in energy costs also exacerbates inflationary pressures and the likelihood of interest rates remaining elevated.
Investors are now closely watching US inflation data for fresh clues regarding the Fed's policy direction. Hotter-than-expected data could prolong the pressure on silver, whereas softer inflation figures might provide room for prices to recover.
Newsmaker Analysis: Silver retains a bearish bias in the short term after slipping below US$67. Future movements will hinge largely on the dollar, Treasury yields, and US inflation data. A decline in yields and the dollar could help silver rebound, while a rise in both metrics would likely sustain selling pressure. (arl)
Source: Newsmaker.id