Silver Under Pressure Amid Dollar Strengthening and Uncertainty
Silver prices showed a relatively flat movement in global markets on Thursday. Spot silver traded around $36.99–$37.21 per troy ounce, slightly weakening compared to the previous session. This decline occurred after prices had reached their highest point in recent weeks.
Investors are currently cautious as risk sentiment remains high. The strengthening US dollar and disappointing US inflation data have added pressure on the price of this precious metal. Traders tend to hold or unwind positions, which has restrained the pace of silver price gains despite increased safe-haven demand.
US inflation data increased in June as import tariffs began to raise the prices of some goods. The PCE index rose 0.3% last month after an upwardly revised 0.2% increase in May. Meanwhile, the US Federal Reserve on Wednesday kept interest rates steady at 4.25%–4.50%, and comments from Chairman Jerome Powell after the decision dampened expectations of a September rate cut.
Source: Newsmaker.id
