Silver Price Plunges to $66.00 Amid Warsh's Hawkish Stance

The silver price has dropped to near $66.00 per ounce due to Federal Reserve Chair Kevin Warsh's hawkish stance, which has strengthened the US dollar and weighed on precious metals.

This decline comes as Fed Chair Warsh signaled a more aggressive approach to monetary policy, suggesting that interest rates may remain higher for longer to combat persistent inflation.

The stronger dollar and reduced likelihood of near-term rate cuts have made dollar-denominated silver less appealing to foreign buyers and dampened its appeal as an inflation hedge.