Silver Prices Plummet Amid Inflation Fears and Hawkish Fed Comments

Silver prices retreated on Friday as investors grew concerned about inflation due to rising crude oil costs and firmer US Dollar.

The non-yielding metal dropped to around $60.30 per troy ounce during Asian trading, after failing to extend its prior session's advance.

This pullback was fueled by the jump in crude oil prices amid fears of a worsening confrontation between the United States and Iran.

Fed official Logan delivered a notably more hawkish message, emphasizing the need for tighter policy, which reinforced a hawkish bias that tends to pressure silver.