Commodities
Silver Price Tumbles Amid Ongoing Energy Supply Concerns
The silver price has extended its decline to near $63 amid ongoing concerns about energy supply risks.
Higher oil prices have de-anchored global inflation expectations, leading to fears of interest rate hikes from central banks. This scenario makes non-yielding assets like silver less appealing.
US President Donald Trump has confirmed that there are no talks or conversations with Iran regarding the energy supply disruption.
The Federal Open Market Committee (FOMC) minutes of the July policy meeting will be published at 18:00 GMT, but investors should not expect major cues on the Fed's interest rate outlook.
The CME FedWatch tool shows that the Fed is likely to leave interest rates unchanged in the September policy meeting.