Silver Prices Drop Below $64 as US Dollar Strengthens on Fed Rate Hike Bets

Silver prices fell below $64 amid Fed rate hike expectations, while the US Dollar strengthened against the Canadian Dollar, according to FX Street.

Sama Kane

KaneForex

Silver Prices Drop Below $64 as US Dollar Strengthens on Fed Rate Hike Bets

Silver prices slipped below the $64.00 mark, pressured by expectations of further Federal Reserve rate hikes and a stronger US Dollar against the Canadian Dollar. According to FX Street, Silver (XAG/USD) is currently trading under $64.00, tracking a weekly decline of 3.7%, with a monthly low near $62.30.

Meanwhile, the USD/CAD currency pair hovered around 1.4150 during early European trading on Friday. The pair's strength is largely supported by market bets on additional interest rate increases from the Federal Reserve, FX Street reported.

For Japanese investors, the movement in silver and USD/CAD highlights the ongoing impact of US monetary policy on global commodities and currency markets, underscoring the importance of monitoring Fed decisions amid shifting risk sentiment.

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This article is for informational purposes only and does not constitute investment advice. KaneForex does not guarantee accuracy or completeness.

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