The silver market has drifted lower this past week, but it looks as if it has a significant amount of support to be found at lower levels. With this, buyers could return this next week.
Silver drops, but it does find buyers on Friday, which would have been a thin session, as it was Juneteenth in the United States. The liquidity will have been very anemic to say the least.
Silver extends losses as hawkish Fed, ceasefire curb demand
Silver price today: Silver falls, according to FXStreet data
Silver Price Forecast: XAG/USD holds losses near $64.50 as US-Iran peace optimism fades
Gold and silver remain under pressure as the Fed's hawkish signal supports the US dollar and Treasury yields, while the US-Iran peace agreement may limit downside risks.
The solar industry is cutting how much silver goes into every panel as fast as it can, and the market is still headed for a sixth straight annual shortage.
Silver and platinum markets found themselves under significant pressure in today's trading session.
Silver markets roll over during the Thursday session, despite the fact that the interest rates are falling in the United States. This represents a shift in the overall market behavior.
Silver price advances on US-Iran agreement, hawkish Fed limits upside
Silver price today: Silver rises, according to FXStreet data
Gold and Silver came under renewed pressure after the Federal Reserve delivered a more hawkish-than-expected set of projections, prompting investors to quickly price in another rate hike later this year. While the Fed left rates unchanged at 3.50%-3.75%, the updated dot plot showed that policymakers have become increasingly concerned about inflation persistence.