Fed Rate Hike Expectations Hammer Silver Price

Silver prices have taken a hit after expectations of further Federal Reserve rate hikes intensified, reducing its appeal against the US Dollar.

According to Traders Union, Silver's price has dropped by 1.32% to $61.27 due to higher US Treasury yields and expectations for additional Fed tightening.

The asset is currently trading below its key moving averages across all timeframes, indicating prolonged downward momentum.

Technical indicators such as MACD and Awesome Oscillator confirm selling dominance, while the Relative Strength Index (RSI), Stochastic RSI, and Commodity Channel Index (CCI) are in oversold territory, highlighting the magnitude of the recent decline.