Silver Prices Plummet as Dollar Rebounds and Oil Prices Soar

Silver prices took a hit on Friday, dropping nearly 1% to around $58.40 in Asian hours as the US Dollar rebounded from its three-day slide.

The Federal Reserve's decision to keep interest rates unchanged and emphasize a 'no forward-guidance' stance has put pressure on the Dollar's broader outlook.

Rising oil prices, driven by constrained global supply and tensions between the US and Iran, are expected to limit Silver's upside.