Silver prices hit a weekly high of $67.89, outperforming a declining energy market as Brent crude drops to $98.51 per barrel amid easing inflation fears.
Silver futures surged to a weekly high of $67.89 on Friday, breaking out of recent consolidation ranges as market sentiment shifts. Conversely, Brent crude prices continued their downward trajectory, falling to $98.51 per barrel as fading inflation concerns and supply restoration efforts weigh on the energy sector.
Silver is benefiting from a shift in investor sentiment following the Federal Reserve's recent rate hike, while oil prices are retreating due to the restoration of key pipeline infrastructure and cooling inflation expectations.