XAG/USD gains stall at $58.68 despite early support from falling oil prices amid persistent Fed tightening bets.
Silver prices rose 1% early in the session, driven by a sharp decline in oil prices, but failed to sustain momentum above $58.68. Hawkish Federal Reserve expectations continue to cap further gains in the precious metal.
The metal opened strongly but struggled to extend advances, reflecting investor caution ahead of potential further rate hikes. Prior sessions saw similar resistance near current levels, with traders balancing inflation concerns against tighter monetary policy.
Market reaction remains muted, as focus shifts to upcoming Fed communications for clearer direction on rate trajectories.