Silver prices have bounced back after a brutal setback that resulted in a 1.59% decline yesterday. With the futures contract currently recovering over 1.00% of those losses, USD weakness ahead of this week’s GDP and inflation data has limited losses.
Despite the ECB (European Central Bank) and Federal Reserve echoing their intention to continue to hike rates, a slowdown in growth forecasts has boosted the demand for safe-haven metals.
With both Silver and Gold holding a reputation as a hedge against inflation, expectations of a slower pace of tightening has overshadowed the hawkish narrative expressed by central banks.
