XAG/USD falls nearly 1% amid a modest rebound in the US Dollar Index, which rose 0.23% to 100.20.
Silver (XAG/USD) declined nearly 1% to $58.40 in Asian trading Friday as the US Dollar regained ground. The US Dollar Index (DXY) rose 0.23% to 100.20, pressuring the white metal after a three-day losing streak.
Earlier, the Federal Reserve’s decision to hold rates steady and avoid forward guidance weakened the USD, but a partial recovery weighed on silver. Analysts cited reduced expectations for a July rate hike and skepticism over Fed Chair Jerome Powell’s inflation rhetoric as key drivers.
Higher oil prices, fueled by geopolitical tensions, may limit silver’s upside by sustaining inflation concerns. The metal remains sensitive to USD movements and broader macroeconomic trends.