Decline in Silver Price as XAG/USD Falls Below $30.50 Amid Slower US Fed Rate Cut Buzz and Stronger US Dollar

The precious commodity of silver has seen a decline in value, with XAG/USD dropping below the $30.50 mark. This has largely occurred due to the slower buzz surrounding US Federal rate cuts and a stronger US Dollar. Despite hopes for a rate cut that could have stimulated silver’s value, the pace of these potential cuts looks bleaker. Not only has this influenced investors sentiment towards precious metals, but it has also made the US Dollar a more attractive asset, subsequently pressuring silver prices lower. For now, the market’s focus remains glued to the Federal Reserve’s next monetary policy decision. Read More