Commodities
Silver Prices Rebound from Sharp Losses Amid Rising Rate Hike Expectations
Silver prices edged higher on Friday after a sharp decline of more than 4% in the previous session.
The precious metal was trading around $57.60 per troy ounce during Asian trading hours, but remains under pressure from changing expectations around US monetary policy.
Higher oil prices linked to rising tensions in the Middle East are strengthening market expectations for potential Federal Reserve rate hikes, which could weigh on silver as it does not provide a yield.
The CME FedWatch tool indicates a 35.8% probability of a Federal Reserve rate hike this month and an 82.1% probability of at least a quarter-point rate hike in September.