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Silver prices fell to $73.05 on Tuesday, down 0.65%, as fragile momentum and a hawkish Federal Reserve outlook pressured the metal. Despite a slight USD retreat, silver struggled to gain traction, reflecting broader market caution ahead of potential Fed rate hikes. The dollar’s mixed performance and uncertainty over central bank policy created a bearish environment for commodities like silver.
The decline highlights the sensitivity of precious metals to interest rate expectations. A stronger USD or prolonged hawkish stance from the Fed could further weigh on silver, making it a key asset to monitor for traders. Investors are also watching for technical support levels at $72.50 and resistance near $75.00 to gauge short-term direction.
For Gulf investors, the move underscores the importance of tracking global monetary policy shifts. If the Fed signals rate hikes in upcoming meetings, silver could face renewed selling pressure. Traders should watch the Fed’s next policy statement and USD momentum for clues on potential reversals.
