Silver Recovers Amid Dollar Easing, Oil Price Jitters
The Silver price (XAG/USD) has recovered some ground on Friday, rising by 2.24% to around $58.55, as the US Dollar eases after its recent rally.
This modest pullback in the Greenback provides temporary support for precious metals, allowing Silver to attempt a recovery from Thursday's sharp correction.
However, despite this brief respite, the white metal remains exposed to the macroeconomic backdrop that continues to weigh on non-yielding assets.
The main driver of market concerns is still the escalating tensions in the Middle East, which have pushed oil prices higher and fueled fears of prolonged disruptions to global energy supplies.
This environment of heightened uncertainty supports safe-haven flows, although the US Dollar is benefiting more than precious metals, helping explain Silver's limited recovery.