Silver price rises to $30.80 per troy ounce during the European session on Monday.
Silver price advances due to escalated geopolitical tensions in the Middle East. Israeli strikes in Rafah on Sunday killed at least 35 people, intensifying pressure surrounding the conflict in Gaza. The subdued US Dollar reinforcesthe strength of the grey metal. Safe-haven commodities like Silver have gained ground due to escalated geopolitical tensions in the Middle East. According to CNN, Israeli strikes killed at least 35 people in Rafah on Sunday, increasing pressure over the war in Gaza.
1 from a preliminary reading of 67.4, it still marked the lowest level in six months. These figures likely contributed to strengthening investors’ sentiment regarding potential rate cuts by the Federal Reserve. However, recent hawkish remarks by Fed officials suggest that the central bank will maintain higher interest rates for a longer period.
XAGUSD Commodities Macroeconomics Silver
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