Silver Prices Weaken as Fed Maintains Hawkish Stance Amid Geopolitical Tensions

Silver prices edged lower on Thursday after giving back previous session gains, reaching around $57.90 per troy ounce during Asian trading hours.

The metal's decline was partly due to the Federal Reserve's decision to keep its target rate unchanged at 3.5%-3.75%, despite acknowledging mounting inflation pressures linked to renewed conflict in the Middle East.

The Fed's hawkish tone, as highlighted by Chair Kevin Warsh during his press conference, weighed on non-yielding assets such as Silver.