Silver price (XAG/USD) surges to near $113.50 during the Asian session on Wednesday. The rally of the white metal is bolstered by economic and geopolitical risks, and interest rate cut expectations. The US Federal Reserve (Fed) interest rate decision will be in the spotlight later on Wednesday.
Silver price rallies sharply more than 8% on Monday, as geopolitical tensions and broad US Dollar weakness, pushes the grey metal to record highs, past $110,00, hitting a record high of $117.73 shy of challenging the $120.00 mark. At the time of writing XAG/USD trades at $112.40.
Gold (XAU/USD) eases modestly on Friday as mild profit-taking sets in following a surge to a fresh record high near $4,967 earlier in the Asian session. XAU/USD hovers around $4,930 at the time of writing and is set for a third straight weekly advance.