Battling the Tide: Silver Prices Struggle Amidst Fed Rate Hike Speculations

In Monday's Asian trading session, silver prices (XAG/USD) oscillated around $66.10 per troy ounce, struggling to regain momentum after opening with a slight recovery from the previous day’s close. This fluctuation is closely tied to market expectations of further interest rate hikes by the Federal Reserve (Fed), which continue to exert pressure on precious metals like silver. The Fed's ongoing contractionary monetary policy stance has sparked volatility in the metal markets, reflecting broader economic uncertainties amid high inflation and challenging growth dynamics.