Gold and silver remain under pressure as Fed rate hike expectations rise, placing the $4,350 and $64 support levels in focus.
Silver Price Forecast: XAG/USD falls to near $66.00 amid Fed Chair Warsh's hawkish tone
The price of Gold, silver and Bitcoin all fell after Warsh pushed September Fed hike odds towards 60%, abruptly challenging August's debasement trade. One speech managed to hit three of August's hottest trades at once.
The Silver price has fallen back to $66 after Warsh revived Fed hike bets, but UBS still sees XAG/USD reaching $80 by September 2027. The Silver price in US Dollars (XAG/USD) closed Friday at $66.42 after a 3.98% daily fall, giving back part of an August rally which had taken the metal above $71.
Silver dropped 4% after Fed Chair Warsh revived September hike risk, driving yields and the dollar higher as industrial demand also weakened.
Silver Price Forecast: False breakout and hawkish Fed sinks XAG
Silver has taken clear leadership across precious metals just hours before Fed Chair Kevin Warsh's Jackson Hole keynote, rising more than 2% and breaking back above 70. Platinum is also advancing strongly, up around 2.6%, while gold is essentially unchanged.
Silver price breaks above $70 ahead of Jackson Hole, with Fed policy set to test the breakout as long-term demand and tight supply support the bullish outlook.
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Silver Price Forecasts: XAG/USD hits fresh two-month highs with all eyes on Jackson Hole
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