Silver Falls Below $59 as Dollar Rebounds and Industrial Demand Remains Uncertain

Silver prices fell to $58.50 an ounce on Friday as the US dollar rebounded after two sessions of losses.

The modest recovery in the greenback prompted traders to trim their positions, causing a decline in silver prices by about 0.8% at $58.52 in early trade.

This price drop snapped a brief recovery following the Federal Reserve's decision to keep interest rates unchanged.

The pullback was measured, but it showed how quickly silver can reverse when currency markets turn.

Brown Brothers Harriman strategists viewed the earlier dollar decline as a response to the removal of July tightening bets and a lack of convincing policy guidance.