Silver Prices Rebound on Hawkish Fed Comments and Escalating US-Iran Tensions
Silver prices rebounded on Monday, climbing to around $66.70 at the time of writing, up 0.40% on the day.
The recovery is tempered by expectations surrounding the Federal Reserve's monetary policy, with Fed Chair Kevin Warsh's recent hawkish tone sparking a significant increase in markets' perceived likelihood of a rate hike in September, now seen as 61% according to the CME FedWatch tool.
This shift could weigh on Silver, which offers no yield, but the white metal benefits from a modest pullback in the US Dollar and rising tensions in the Middle East.