Silver price continues to lose ground after retreating from the highest level of $32.51, a level not seen since December 2012.
Silver price depreciates as hawkish remarks from Fed officials suggest higher rates for longer. The higher US Dollar is dampening the demand for Silver . Traders await the FOMC Minutes to gain further clues about the Fed's policy stance. The Silver price trades around $31.80 per troy ounce during the European hours on Wednesday. Investors assess recent remarks from Federal Reserve officials, with several policymakers advocating for continued policy caution.
On Monday, the Chinese Commerce Ministry announced a prohibition on General Atomics Aeronautical Systems, a US company, from engaging in import and export activities related to China. This decision comes amid ongoing trade tensions between the United States and China. Additionally, China’s measures to stabilize its property sector are providing some boost to safe-haven assets like Silver.
XAGUSD Commodities Macroeconomics Silver
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