Silver prices climbed to $60.10 as cooling oil markets and shifting Federal Reserve rate expectations provided a tailwind for the non-yielding asset.
Silver is experiencing a recovery after a three-day decline, currently trading near $60.10 per troy ounce. The asset is benefiting from a broader cooling in inflationary pressures, largely driven by a drop in oil prices, which in turn has tempered market expectations for aggressive Federal Reserve interest rate hikes.
Silver is gaining ground, trading around $60.10 per troy ounce after a three-day losing streak.
The rise is supported by falling oil prices, which reduce inflation concerns and lower the likelihood of further Fed rate hikes.
Silver prices rebounded to $60.10 per troy ounce during Friday's Asian trading session, snapping a three-day losing streak. The precious metal gained momentum as falling oil prices tempered global inflation concerns and lowered market expectations for aggressive Federal Reserve interest rate hikes.
Silver is gaining ground because falling oil prices have eased inflationary concerns, leading investors to lower their expectations for aggressive Federal Reserve interest rate hikes.