XAG/USD climbs to $70.70 on softer USD and Fed policy expectations, extending recent gains.
Silver (XAG/USD) jumped 3.94% to $70.70 on Monday, driven by a weaker US Dollar and anticipation of the Federal Reserve’s upcoming decision. The rally extends a rebound in precious metals as traders weigh geopolitical developments and monetary policy shifts.
The move follows a broader decline in the USD, fueled by a reported US-Iran framework agreement. Markets are also positioning ahead of the Fed’s policy announcement, with silver benefiting from its dual role as an industrial and safe-haven asset.
No immediate market reaction data was provided, but the gain reflects heightened demand amid shifting macroeconomic expectations.