Forex
Silver Price Recovers Amid Modest Pullback in US Dollar
The price of Silver has recovered slightly as the US Dollar eases on Friday. The XAG/USD rose by 2.24% to around $58.55, following a sharp correction on Thursday.
This uptick in Silver's price is largely due to the modest pullback in the US Dollar, which had been rallying recently.
The concerns over inflationary pressures driven by higher Oil prices continue to support expectations of a more restrictive monetary policy. The escalating Middle East tensions have also sustained demand for the US Dollar, limiting the upside for precious metals.