Silver Prices Stall at $60 Amid Ongoing Fed Hike Expectations

Silver prices remain under pressure near $60 as investors reassess their bets on future interest rate hikes by the Federal Reserve.

The US Personal Consumption Expenditures (PCE) inflation data released earlier in the week showed softer-than-expected growth, which initially sent silver prices higher and pushed down Treasury yields. However, stronger GDP and ADP employment figures have kept expectations alive for a potential interest rate hike later this year.

This hawkish stance by the Fed is weighing on non-yielding assets like silver, which tend to perform better when borrowing costs are low.