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Silver hits fresh 2025 low as Red Sea supply fears lift oil risk
Silver slid to $54.77, while the US Dollar Index edged higher near 100.80, and markets cut the odds of a Fed rate hike to 10.2% for the end of the month.
Silver prices fell in early European trade on Friday, dropping 0.8% to around $55.00 after hitting a fresh year-to-date low at $54.77, FXStreet reported.
The metal’s decline was attributed to renewed selling pressure linked to concerns that global energy supply could tighten further, after Iran warned it could seek to close the Red Sea oil route by urging Yemen’s Houthi militia to stand ready to act.
The story said the prospect of higher oil prices could keep inflation expectations less anchored, which would raise pressure for tighter monetary conditions, a headwind for non-yielding assets like silver.
FXStreet also pointed to a slight uptick in the US dollar, with the US Dollar Index near 100.80, and noted that odds of a Fed rate hike later this month have eased to 10.2% from 24.6% a week earlier, according to CME FedWatch.
Latest closeSilver $55.72 ▼2.4%|Dollar index 100.71 ▲0.2%