Silver tracks industrial participation as manufacturing expectations stabilize
Silver Price Forecasts: XAG/USD edges up above $58.00 as the US Dollar trims gains
TL;DR: Gold and Silver tumbled as markets returned to the oil-rates relationship that governed Q2, with Brent above $100 and 10-year Treasury yields above 4.7% restoring pressure on the metals — leaving their next move hostage to Trump's binary decision on Iran.
Silver Price Forecast: XAG/USD holds gains above $57.50 despite rising Fed rate hike odds
Gold and silver remain under pressure as a stronger US Dollar and higher interest rate expectations limit recovery, while both metals trade near key technical levels that could determine the next major move.
Silver Price Forecast: XAG lower highs structure holds, bears eye $55
The Strait of Hormuz has closed twice this year, and both times silver fell instead of rallying, because the crisis bid went into the US dollar rather than into metals.
The silver market has pulled back early on Thursday, as we continue to see a bit of volatility in this market. Higher rates continue to be a thorn in the side of traders.
Today's important trade levels for Gold and Silver [Video]
Silver price today: Silver falls, according to FXStreet data
Silver Price Forecasts: XAG/USD stalls below $60 as US yields rally
Silver Price Forecast: XAG/USD bulls have the upper hand above $59.00 confluence