Commodities
Warsh's Hawkish Turn Extends Dollar Squeeze on Silver
Silver prices have been stuck below $65 per troy ounce as market participants react to hawkish comments from Federal Reserve officials.
On September 24, XAG/USD traded at $64.23, down $0.21 or 0.33 percent from the previous day's close of $64.44.
The decline follows two days of selling sparked by Fed Chair Kevin Warsh's remarks at the Peterson Institute for International Economics, in which he stated that inflation remains 'stickier than the forecasting consensus had assumed' and linked future rate decisions to the Fed's institutional credibility.
St. Louis Fed President Alberto Musalem also weighed in, saying that a November FOMC meeting is not off the table.