Silver extends losses as hawkish Fed, ceasefire curb demand

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Silver prices fell to $64.85 on Friday, marking a 1.31% decline for the day as the metal remains pressured by expectations of continued hawkish Federal Reserve policies and a ceasefire in the Middle East. The three-day downward trend reflects reduced speculative demand and concerns over tighter monetary conditions, which typically weaken non-yield-bearing commodities like silver. The Fed's recent signals of prolonged high rates have shifted investor focus toward assets offering income generation, while the Middle East ceasefire has dampened industrial demand for silver used in electronics and solar panels. For traders, this creates a bearish bias in the short term, with technical support levels at $63.50 and $62.00 becoming critical for near-term direction. Market participants should monitor the Fed's upcoming policy statements and any escalation in geopolitical tensions that could disrupt supply chains.