Commodities
Silver Prices Plummet Below $65.50 Amid Hawkish Fed Bets
Silver prices have fallen below the key $65.50 area, as investors continue to anticipate potential monetary tightening in the United States.
The metal's price dropped more than 2.5% on Tuesday, trading around $64.85 at the time of writing.
The shift in expectations surrounding the Federal Reserve (Fed) has weighed heavily on precious metals, with Chair Kevin Warsh indicating that interest rates may need to rise if inflation fails to slow sufficiently.
The US central bank's hawkish stance, combined with rising energy prices and tensions in the Middle East supporting Oil prices, have created a challenging environment for Silver.