XAG/USD declines as renewed Middle East risks lift the US Dollar ahead of key Federal Reserve policy insights.
Silver (XAG/USD) fell to $58.45 on Wednesday, extending losses as geopolitical tensions and a stronger US Dollar weighed on the metal. Comments from US President Donald Trump reignited concerns over potential Middle East conflict, bolstering demand for the USD and US Treasuries as safe-haven assets.
The decline follows a period of heightened volatility for precious metals, with silver underperforming gold in recent sessions. Market participants are also focusing on upcoming Federal Reserve minutes, which could provide clues on future monetary policy direction.
No immediate market reaction was specified beyond the price movement to $58.45.