Commodities
Silver Prices Slide Amid Energy Supply Risks and Weakened Inflation Expectations
Silver prices retreated by about 1% on Friday, trading near $63.80 in the Asian session due to renewed concerns over global energy supplies.
The disruptions through the Strait of Hormuz and Bab al-Mandab, key routes for almost 27% of global energy flows, are supporting oil and inflation expectations, weighing on non-yielding assets like Silver.
According to TD Securities, the recent easing in crude oil's rally has led to softer short-term price action, but its strategists continue to highlight that fundamental tightness across crude and product markets should ultimately support further upside.