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Silver holds near $59.90 as Fed hike odds curb gains

Silver is trading around $59.90, while CME FedWatch pricing shows a high chance of at least one rate hike before year end.

Reported · Written up by our desk · Major Pairs

Silver prices edged lower on Friday, staying near $59.90 per ounce and down about 0.1% on the day, as traders struggled to extend a rebound.

FXStreet links the softer tone to renewed Middle East tensions that are reviving worries about persistent inflation, keeping expectations for Federal Reserve rate hikes alive and pressuring non-yielding assets like silver.

The outlet says US and Iran hostilities have pushed up oil prices, reinforcing the inflation narrative. That backdrop is also supporting the US dollar, which can weigh on dollar-denominated precious metals.

Markets are also watching for direction from upcoming US data, with attention turning to the Consumer Price Index due Tuesday, which could influence the perceived pace of Fed tightening and become the next catalyst for silver.

Latest closeSilver $60.37 ▲3.8%

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