Commodities
Silver Price Consolidates Near $66.35 Amid US-Iran Diplomacy Hopes
The price of Silver (XAG/USD) has consolidated near $66.35 at the start of the week, as investors remain focused on developments in the Middle East and US interest rate outlook.
Oil prices have extended their decline in Monday's Asian trade, with hopes of US-Iran diplomacy increasing following President Donald Trump's comments that he would be open to meeting Iranian President Masoud Pezeshkari this week at the UN General Assembly in New York.
This decline in oil prices has eased fears of high inflation expectations, which in turn dims projections for high interest rates. This bodes well for non-yielding assets like Silver.