A bearish tone is increasingly visible on both gold and silver charts heading into the FOMC meeting, as markets continue to reprice inflation risks and interest rate expectations.
Silver Price Forecasts: XAG/USD hits two-week lows near $73 with central banks in focus
Silver Price Forecast: XAG/USD slips below $74.50 on war driven inflation
Despite a weaker USD at the start of the week, both Gold and Silver have failed to attract meaningful buying interest, trading instead in narrow ranges. This breakdown in the usual inverse correlation suggests that markets are shifting focus away from currency moves and toward a more dominant driver: central bank policy risk.
Silver price slips in cautious trade ahead of Fed meeting, Powell succession risks
The silver market has seen some choppy action early on Thursday, as traders attempt to discern risk appetite in the markets overall.
Silver price today: Silver falls, according to FXStreet data
Silver futures posted the steepest weekly loss in the metals complex as oil-driven inflation fears overwhelmed safe-haven demand and industrial metal sentiment.
Gold and silver may take their directional cues off risk appetite this week, with sentiment surrounding a packed US earnings calendar potentially as important in the near term as the Fed or developments in the Gulf.
Gold and silver remain in consolidation as Fed risks, oil prices, the U.S. dollar, and U.S.-Iran tensions keep precious metals waiting for the next major breakout.
Silver Price Analysis: Advances but stalls at technical confluence near $75
Silver price prediction weakens as Fed outlook stays hawkish. Strong dollar and yields limit silver rally and pressure the broader silver market.