Silver Prices Rebound Amid Rising Fed Hike Odds and Oil Price Volatility
Silver prices rebounded slightly on Friday after suffering losses of more than 4% during the previous trading session. The precious metal was trading around $57.60 per troy ounce during Asian trading hours.
The rebound comes despite changing expectations around US monetary policy, with higher oil prices linked to rising tensions in the Middle East strengthening market expectations for potential Federal Reserve rate hikes.
Markets are currently pricing in an estimated 35.8% probability of a Federal Reserve rate hike this month and an 82.1% probability of at least a quarter-point rate hike in September, according to the CME FedWatch tool.