XAG/USD rises to $60.35, ending a two-day decline, driven by a softer US Dollar and anticipation of June FOMC meeting insights.
Silver prices climbed above $60.00 to near $60.35 during early European trading on Wednesday, breaking a two-day losing streak. The rebound follows a softer US Dollar, which supported demand for the white metal ahead of the June Federal Open Market Committee meeting minutes release.
Prior to this move, XAG/USD had declined for two consecutive sessions, reflecting market caution amid US-Iran tensions. The focus now shifts to the Fed minutes, which could provide clues on future monetary policy direction and further influence USD strength.
No immediate market reaction was specified, but traders are closely monitoring the Fed’s tone for potential impacts on precious metals.