Silver prices dropped 5% to $55.05 as intensified Federal Reserve rate hike expectations triggered a sell-off, pushing the metal to its lowest level in three months.
Silver is experiencing significant downward pressure, dropping 5% to reach a three-month low of $55.01. This bearish momentum is primarily driven by intensified market expectations regarding Federal Reserve interest rate hikes, which typically strengthen the dollar and weigh on non-yielding precious metals.
Silver fell by 5.00% on Thursday.
The asset is trading around $55.05 after hitting a three-month low of $55.01.
Silver prices tumbled 5% on Thursday, hitting a three-month low of $55.01 per ounce. The sharp decline follows mounting investor expectations for further interest rate hikes from the Federal Reserve, which continues to weigh on non-yielding precious metals.
Silver is declining primarily due to increased market expectations for Federal Reserve interest rate hikes, which typically reduce the appeal of non-yielding assets like precious metals.