Silver (XAG/USD) holds firm on Friday, supported by a modest pullback in the US Dollar after its strong weekly rally. At the time of writing, Silver trades around $64.30 but remains on track for a weekly loss.
Gold (XAU/USD) price holds firm on Friday after two days of losses, as US bond yields remain high and inflationary concerns mount, increasing the likelihood of further tightening by the Federal Reserve (Fed) and other major central banks.
Silver price (XAG/USD) is up 1.85% to near $65.00 during the European trading session on Friday. The white metal strengthens as rally in the US Dollar (USD) and United States (US) Treasury Yields appears to have hit a pause.
Gold (XAU/USD) edges higher on Friday as the US Dollar (USD) and Treasury yields take a breather following their strong rally this week. At the time of writing, XAU/USD trades around $4,310 after slipping to a one-week low of $4,244 on Thursday.
The price of the US benchmark West Texas Intermediate (WTI) barrel has stabilised above $91.00 on Friday, with the reversal from Thursday’s highs, near $96.00, losing momentum.