SilverXAGUSD

Daily Market Briefing

Bearish

Silver (XAGUSD) tests $62.80 amid rising oil prices and hawkish Fed expectations

Over the past 24 hours, silver (XAGUSD) has declined by 2.11%, trading at $62.80. This downturn is primarily driven by escalating oil prices surpassing $100 per barrel, which have intensified inflation concerns and bolstered expectations of a hawkish Federal Reserve stance. These factors have collectively strengthened the U.S. dollar, diminishing silver's appeal as a non-yielding asset.

Key points

  • Silver tests $62.80 as oil tops $100 and hawkish Fed bets intensify
  • Silver price forecast: XAG/USD hovers above a key support in the $63.00 area
  • FXStreet data shows silver price (XAG/USD) rises on Monday, trading at $30.81 per ounce

Sources

AI-generated from public news sources. Not financial advice.

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