Silver Price Holds Steady Amid Inflation Concerns

The silver price has remained steady at $63.56, despite a modest intraday gain.

This is due in part to ongoing pressure from short- and medium-term trends, as indicated by the metal's position below its key moving averages.

Rising inflation concerns have also contributed to the sentiment, with potential central bank rate hikes reducing the appeal of non-yielding assets like silver.

The technical analysis suggests that XAG trades below the MA-20 at $64.74 and remains under the MA-200 at $74.74.