XAG/USD falls near $66.00 per ounce amid rising oil prices and expectations of tighter Fed policy.
Silver prices retreated to around $66.00 per troy ounce in Asian trading, reversing two days of gains. The decline follows a surge in oil prices, which stoked inflation concerns and reinforced bets on further Federal Reserve interest rate hikes.
Prior to the drop, XAG/USD had climbed modestly, supported by a weaker USD and softer Treasury yields. Analysts had expected a consolidation phase before the next move, but rising energy costs shifted sentiment.
Markets now await Fed commentary for clues on future policy, with silver remaining sensitive to macroeconomic shifts.