Silver Market in Turmoil: Bullish Forecast vs. Bearish Geopolitics

The silver market is experiencing a tug-of-war between two opposing forces: a bullish bank forecast and a bearish market influenced by geopolitics and interest rates.

A $90 bank forecast, reaffirmed by Citi, sits alongside a current price of $65.11 per ounce, which has slipped 1 percent on the day.

The recent pullback followed a sharp reversal in sentiment after soft US economic data fueled hopes that the Federal Reserve might ease off its tightening pedal.

However, firmer US yields, rising oil prices, and the looming release of the Fed's meeting minutes have flipped the mood entirely.